Midnight Bitcoin Market Brief --- Bitcoin near 88000 is an important watershed for cost rounds, and both long and short positions are about to trigger.
During the day, we reached $BTC 87500 ～88100 ～89200 short positions. After the evening data was released, it peaked around 87770 and began to pull back, with a low reaching 86000. For short-term players, 1500 points is enough to eat. The price surged again to around 88143, currently averaging around 87800. The trend of $ETH today is relatively weak, with a maximum only reaching around 2982. The short positions around 3000 failed to enter, and the live room let everyone chase the initial short around 2945. If you came in, just be patient and wait; the midnight strategy continues to favor shorts!
Bitcoin's upper resistance near 88100 has currently become an important support level, as well as a watershed for long and short positions, so this is a crucial position. It is also near the Fibonacci retracement at 0.618 and the previous expansion line resistance. It can be said to be a key ceiling level of resistance. If the price can stabilize above 88000 USD, accompanied by an increase in trading volume, this could potentially become a key support level. It may touch the next resistance area of 92000-94000 (probability 30%). Focus on participating in high shorts around 88100 in the evening, and to prevent false breaks, you can appropriately add once near the next resistance level of 89000. The stop loss should be set above 90000, and the target should focus on the lower levels around 86000 and 83800, which include psychological support from previous lows and the convergence of the 100-week moving average and the long-term upward trend line, regarded as the most critical structural support. Once this support is lost, it may open up larger downside space, with targets possibly pointing to 74500 USD. (Recommendation: reduce positions by 80% at 838 and then gamble on 80600～78500～74500.)
Ethereum currently still faces strong pressure around 3000, 3030, and 3060. From the four-hour chart, a standard head and shoulders pattern can be seen. The upper area around 3000 ～3060 is the neckline area, which is worth considering for participating in high shorts. The midnight strategy can continue to focus on these positions for high shorts! The stop loss needs to be placed above 3130, with targets focusing on around 2915～2850～2800, and reducing positions near 2750 by 80%, to gamble around 2620 and 2440 (positions should be controlled within an acceptable wide stop loss!).
The above is only Jiang Feng's personal opinion for reference; profits and losses are at your own risk!
