11.4 Zheng Chen's Morning Strategy

After Bitcoin surged to a high of 107,700, it encountered strong resistance and entered a downward trend this morning, reaching a low of around 105,700. Ethereum also faced pressure, rebounding to a high of 3,680 in the early morning before declining, reaching a low of 3,555 this morning, a cumulative drop of over 100 points.

Currently, short-term bearish momentum clearly dominates. If the downward trend continues, the market is likely to begin a new round of correction; even if a technical rebound occurs, the risk of a weak rebound followed by another dip should be noted. Overall, the market has entered a downward trend, and the sharp intraday decline further strengthens the short-term bearish sentiment. The core trading strategy remains "short on rallies."

Bitcoin: It is recommended to short in the 106,900-107,500 range, with targets at 105,000 and 102,000.

Second, it is recommended to place short orders in the 3630-3680 range, with targets at 3500 and 3200. ($BTC $ETH #币安HODLer空投MMT )