Today the market welcomes a unilateral downward waterfall trend. Bitcoin briefly consolidated in the previous fluctuation range before suddenly breaking down, hitting a low of 87386. Ethereum also fell in sync, with the low point reaching 2717. The previous high fluctuation range has been effectively broken, and has now transformed into a key resistance area above. The Zhuowei trading team accurately predicted the market trend and set up short positions in advance the previous night, entering Bitcoin at 91800 and Ethereum at 3046, successfully capturing a profit space of 2901 points for Bitcoin and 128 points for Ethereum; in the morning, they followed up with short positions, gaining another 1852 points for Bitcoin and 67 points for Ethereum. Trading in the cryptocurrency market is a long-term game; short-term minor losses are normal, and there is no need to be anxious about temporary gains and losses. As the subsequent market volatility intensifies, profit opportunities will also expand simultaneously; maintaining a positive mindset will allow one to seize opportunities.
From a technical perspective, after the previous three consecutive small bearish candles tested the middle track on the daily level, there are significant signs of pressure. The K-line has been continuously declining with long upper shadows, approaching the lower track of the Bollinger Bands. Currently, it is testing support at the previous starting point, and the support strength in this range is considerable, which will provide directional anchor points for the subsequent market trend. On the four-hour level, the K-line has broken through the lower track of the Bollinger Bands, with a strong continuation of the bearish trend, continuously driving the market to deepen its decline. The short-term rebound is merely a technical correction after the breakdown. It is recommended to set up short positions based on the rebound.
Bitcoin short in the range of 85000-85500, target looking at 83000.
Ethereum short in the range of 2750-2780, target pointing to 2650.
