After a sharp rise and subsequent drop forming an inverted V, do you still have faith in the bulls?

The volatility isn't that significant; last night Bitcoin dropped from 68700 to around 67300, which is only a decline of 1400 points. So how did so many get liquidated? In the last 24 hours, long positions worth 31.35 million dollars have been liquidated, which is another alarming number. We had long positions for Bitcoin at 67700, with the highest rebound at 68748 before it declined. Therefore, long positions can always be profitable, it just depends on the amount. In a volatile market, short-term trading shouldn't lack structure; otherwise, it’s easy to give back profits.

We originally thought that after hitting 68700, it could push through to 69500 and touch the 70,000 mark, but it dropped again in one breath. Currently, the price is around 67500. Looking at the 4-hour level, bullish momentum is starting to weaken. After testing the upper limit and facing resistance, it has pulled back. The MACD bullish energy bars are shrinking, and the KDJ has formed a dead cross and is moving downwards. Key support to watch below is the mid-band at 67200. At the hourly level, after hitting the upper limit and facing resistance, it recorded a long upper shadow and a bearish candle, followed by a large bearish candle that directly hit the lower support. The current price is oscillating between the lower support and mid-band resistance. The MACD bearish energy bars are beginning to increase in volume, and the KDJ is forming a dead cross and moving lower. From a short-term perspective, there is still a need for a pullback. The key position below is 67200; if it doesn’t break this level, a rebound can still occur. If it stabilizes above 68000, the bulls will be secure!

Midnight strategy: Long at 67200 and 66700, with targets at 68000, 68700, and 69500, stop loss at 66300.

Ethereum provided long positions at 2500 and 2460 during the day, with an average price of 2480. It has already given a reduction alert at 2540, with the highest rebound in the evening at around 2565, providing a rebound space of 85 points. Securing a profit of 60 points from Ethereum long positions is still quite easy. Below, the key support to watch is at the integer level of 2500. If it holds here, it’s just a pullback, and the bulls can still do something. Watch for resistance above at 2560 and 2620, with support below at 2500 and 2470.

Midnight strategy: Long at 2500 and 2470, with targets at 2560 and 2620, stop loss at 2440.

The above is just a personal opinion; investing carries risks, and one should be cautious when entering the market! #BTC重返6W8 #黑客归还美国政府被盗加密资产 #AI概念币走弱 #美国大选前行情观察 $BTC $ETH