I have been away on official business recently, so strategy updates will be relatively reduced, and real trading will be normal. This afternoon, Bitcoin fell again with large volume, reaching the support level near 57600, but this decline did not show a substantial break, and then the overall market rebounded to around 58000 and fluctuated. Ethereum fell synchronously, reaching a minimum of around 2600. Our early morning empty Dan Bitcoin entered the market at 59040, and left the market when it fell to 57836, pocketing 1204 points of space. Ethereum entered the market at 2665, and left the market when it fell to 2613, and empty Dan took 52 points of space. In the evening, the bulls increased their volume, the price ratio rose, and the high point reached 59820, but failed to substantially break through the previous rebound pressure level of 59810. At midnight, the price ratio fell under pressure and we took empty Dan again at a high position.
The current market is that the daily chart has closed negative for two consecutive days, and the bears still dominate. On the four-hour chart, the exchange rate has five consecutive negative lines going down, approaching the lower track, but failed to effectively break through the support level of 57,600. In such a market, if the support level holds, we can continue to look at the rebound; if it falls below the support, we will go short. At present, market sentiment tends to be pessimistic. In the short term, the exchange rate is in a clear downward trend. Although there is a possibility of rebound, the overall market sentiment and technical indicators are biased towards the short side. It is expected that the market will fall into volatility in the short term, and we will arrange short orders when it rebounds.
Big cake 57500-57800 short, target around 56500
Ether 2560-2590 short, target around 2480.
