On Tuesday, the overall market trend showed a fluctuating downward movement. The Bitcoin price slightly rebounded to around 88904 in the morning before coming under pressure, then slid down to a low point of around 86536 by the evening. Ethereum's daily performance also maintained a synchronized movement with Bitcoin, with the price dropping from the morning high of around 3035 to a low point of around 2899 by the evening. Yang Jie repeatedly mentioned a bearish outlook throughout the day, with strategy suggestions consistently reaching expected positions. The Bitcoin short positions and Ethereum short positions both yielded good profit margins during the day, with Bitcoin's two shorts totaling over 1600 points and Ethereum's two shorts totaling 76 points.
From the analysis of market performance, the 4-hour cycle after two consecutive bearish candles showed an alternating pattern of bullish and bearish movements. Prices continued to operate within the middle and lower bands of the Bollinger Bands, and the current long and short players are in a stalemate, with no effective breakthrough formed yet. The upper selling pressure and lower support have created a phase resistance zone. Although bulls are attempting to push towards the middle Bollinger Band, based on the volume release pattern, the probability of breaking through the middle band resistance is low. The market is likely to continue the previous trend, fluctuating within the middle and lower band range. Looking at the 1-hour cycle, after three consecutive bearish candles completed the correction, the market showed a two consecutive bullish rebound pattern, with prices currently rising near the middle Bollinger Band. The bullish candlestick has a long upper shadow, indicating that there is still short-term selling pressure above. For midnight operations, Yang Jie suggests adopting a rebound short trading strategy.
Bitcoin: Short positions around 88500, target at 86500.
Ethereum: Short positions in the range of 2970-3000, target at 2850.
