Yesterday emphasized the upcoming second dip, which has finally arrived as expected. Although the market faced setbacks during the day, we have always adhered to our strategy, ultimately leading to a significant decline in the market early this morning, reaching the original targets of 97300 and 3440. Moreover, it appears that the drop may go much further than this.
Among the two main strategies provided in the live broadcast, the second strategy was successfully implemented. In the first half of the night, there was a noticeable stagnation, and the market was unable to break through the minor resistance, leading to a successful implementation of the downward strategy.
In terms of intraday performance, Bitcoin's initial decline directly broke the small wave Fibonacci 0.618 support level. The overall trend in the morning showed weakness, making it difficult for the 97300 support to withstand the demand for intraday declines. It is inevitable that the market will continue to decline on Friday, with the lower support range expected to be between 94000 and 93000.
Ethereum has broken through the small wave Fibonacci 0.618 and the large wave overlapping 0.382 in this round, so the next support will be aimed at the large wave Fibonacci 0.5 at 3330.
In today's summary strategy, the primary focus remains on observing resistance with a high short position. In the upper range, pay attention to the initial resistance layout at 98000 and 3440 in the morning, and subsequently look at the strong resistance front positions (99000 and 3510) for adjustments. The defense should be based on the average price, with each bringing around 1500 and 70 points respectively. $BTC