This morning, Bitcoin continued its downward trend from the night, with the price dropping to a low of 85073 before stopping the decline, followed by a slight rebound to 86521, where it faced resistance and fell back; Ethereum followed suit, initially dropping quickly to a low of 2890 before bouncing back, and this morning the price continued its rebound rhythm, slightly warming up to a high of 2976 before pausing. The short position strategy provided by Lao Hu yesterday has led to profits for those who kept up with the rhythm; in the real trading aspect, Bitcoin gained over 2200 points, and Ethereum also captured over 140 points. From the current market structure, there has not yet been a clear signal to stop the decline, and the mid-course rebound is merely a normal corrective adjustment. In fact, the core logic of trading is quite simple: as long as you catch the market rhythm, lock in the correct direction, and add professional strategic guidance, taking profits is not as complicated as imagined.
From the current market perspective, the four-hour level market previously broke through the lower Bollinger Band with a large bearish candle before stopping the decline and warming up, with a long lower shadow formed under the bearish candle, indicating that the bears have not been able to continue the breakout in the short term. However, the Bollinger Band still maintains a downward opening shape, indicating that the downward trend has not yet ended, and the current rebound is merely a technical correction during the downward process. Switching to the daily level, the market shows a five consecutive bearish candle trend, with the price simultaneously touching the lower Bollinger Band. Although there is some short-term support, it has not driven the price to warm up significantly, and the daily indicators are diverging downward, with strong bearish sentiment, and the overall market remains in a weak structure. Therefore, in the afternoon operations, Lao Hu suggests continuing the idea of shorting during the rebound, relying on resistance levels to set up short positions.
Operation suggestions
Bitcoin short near 86500—87000, target 85500—84400
