Bitcoin daily line showed three consecutive negative lines and continued to fall, while Ethereum daily line showed four consecutive negative lines. Yesterday, the price ratio of the two rebounded to 12800 and 3908, then encountered pressure and fell back, continued to fluctuate and gave up the recent gains, and finally closed at a low level, which was consistent with the situation expected by yesterday's evening review.
Currently in the stage of wide-range shock washing, the short-term trend is falling. As far as the current situation is concerned, there is still room for further correction.
Given that both the daily line and the small cycle closed at a low level, a small step shock and fall pattern has been formed, and the market can be further expected to fall today. The 1-hour chart of the price ratio of Bitcoin and Ethereum is running in the shock step downward channel, and a secondary high point is currently formed at 99000/3530, which basically coincides with the downward trend line above.
The short-term expected market will fall further during the day, and the rebound short-selling strategy is still appropriate in terms of operation. Due to the large fluctuation base, the stop loss price and entry price need to be adjusted accordingly. You can enter the market in batches to prevent missing the ideal point.
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