Bitcoin has experienced four consecutive daily candles of decline. Those who followed the trend up have already made a substantial profit. Last week, we shorted at 94000 and 92000, and this week, there was no opportunity for a rebound to enter. Ethereum was shorted at 3400 last week, and this week, shorting at 3100 and 3150 has been possible. Has anyone enjoyed the ride? The short positions were clearly indicated, but the likes and popularity are disappointingly low. Are people getting liquidated from going long, or have those who shorted already achieved financial freedom and exited the market? The threshold for joining the market is getting lower; anyone can call trades and stream live. It's all about talk: chasing shorts when prices fall and chasing longs when they rise, straightforward and direct, which can stir emotions. Perhaps retail investors like this approach, hence the various liquidation packages they receive. As Zhong Liang always says, behind every liquidation, there is no innocent retail investor!
The market has fallen into panic again, and at this moment, the bears must remain rational and calm. If you miss the short position, then wait for a rebound, don’t chase the short too aggressively, or you might get caught again. The daily K chart's Bollinger Bands are opening downwards, and the MACD bearish momentum is starting to increase. The KDJ has turned downwards from a high position forming a death cross and is heading down, while the RSI is also turning down. The overall direction is undoubtedly bearish. The short-term 4-hour level price is pressing down on the lower band, opening downwards. This kind of downward trend is the most distressing, watching the market go lower and lower, with long positions getting more trapped, making it impossible to guess the bottom. The hourly chart's rebound is weak; if there is a daring rebound during the day, just short it, especially since the short at 94400 is still in hand!
The mid-line pressure on the hourly chart is at the 87000 line, the mid-line pressure on the 4-hour chart is near 88800, and the mid-line pressure on the daily K chart is near 90000. Therefore, shorting here undoubtedly becomes the position for participating in high shorts in batches, with 87000, 88800, and 90000 here, while the support below focuses on 85000, 84000, and 82000. This week, the bears will first look at 80000, while the swing short target remains at 75000.
Ethereum has fallen from 3177 all the way down, currently at the lowest 2890 line. Yesterday, the strategy channel provided a short from 3150 to 3180, and it has dropped significantly from the highest point—simply amazing! The daily K chart’s lower band is opening downwards, slowly creating space. The mid-line pressure is at the 3070 line. The 4-hour level price is pressing down on the lower band, and the mid-line pressure is also near 3070. The hourly chart's three Bollinger Bands are expanding downwards, with the mid-line pressure at around 3000. Therefore, today’s thinking for high shorts is quite clear, focusing on participating in high shorts around 3000 and 3070, using yesterday’s high of 3170 as defense, while the support below focuses on 2900, 2800, and 2700, with a swing short target of 2500!
In the end, is it really that hard to get 200 likes every day? Is it the platform not giving traffic, or are people unwilling to put in the effort for free likes? After working hard to write such long articles every day and being so meticulous, is it really not as good as those flashy streamers who just use their mouths, shout slogans, and pump up enthusiasm?
"Before the troops move, supplies must go first. Well-fed and well-equipped soldiers are unbeatable." This is a saying that many people are familiar with. When two armies engage in battle, it's actually a clash of resources. Only with ample preparation can one win steadily. The same is true in the trading market. Amidst the bloody battles of longs and shorts, finding our own place is crucial, and the most important thing is to protect the principal. So-called stable profits are merely the pursuit of steady growth of the principal, not overnight wealth.#BinanceABCs
