The core of the cryptocurrency market is the ultimate game of mental stability. Only by being steady and grounded, and accumulating strength over time, can one establish a long-lasting position. The midnight market performance was flat, with a brief rebound followed by renewed pressure and a decline. Bitcoin surged to around 91800, and Ethereum touched around 3043 before both fell simultaneously. The rebound short strategy previously given by Zhaowei accurately matched the market trend, and friends who followed the strategy can hold patiently and wait for further market declines.
As Friday's closing market approaches, the long-short battle enters a critical stage. Whether the shorts will continue their strong momentum into a frenzy or the longs will stage a counterattack feast remains to be seen. Currently, the bearish downtrend is clear, with momentum continuing to increase. The four-hour level shows high-level consolidation and a pronounced bearish pattern, while the hourly line is probing down along the middle track of the Bollinger Bands. The three tracks of the Bollinger Bands are gradually opening, and a market explosion is imminent. The MACD indicator shows deepening divergence, with an increase in the lower zero line bars, reinforcing the downward crossing trend, indicating strong bearish continuation.
Morning layout continues to look bearish:
Bitcoin short in the range of 91500-92000, target 90000
Ethereum short in the range of 3040-3070, target 2950
