This morning, the market showed a strong downward trend. The Bitcoin price surged to a high of 90599 last night before facing resistance and falling back, with a minimum dip to around 87872; the altcoin trend remained synchronized, starting its downward move from a high of 3077 last night, with a minimum touching around 2961 this morning. Previously, the short-selling strategy given by Lao Hu around Bitcoin 90500 and altcoin 050 was confirmed, as the market quickly retreated after the surge, aligning closely with expected trends. Profits are never accidental, relying on precise market analysis and layout.
In the 4-hour timeframe, when Bitcoin peaked at 90599, it formed a long upper shadow candlestick and quickly fell back. This pattern reflects heavy selling pressure above, and after the bulls attempted to break through, they lacked the strength to continue. Currently, the price is oscillating near the middle track, and the Bollinger Bands have shifted from an opening to a closing, indicating that the short-term upward trend has been damaged. The price will enter a bearish oscillation or downward cycle, with the lower track becoming a key short-term support reference. Although there is a brief support at the bottom, this position has not formed an effective stabilization with a bullish candlestick rebound, merely displaying weak sideways movement. From a daily perspective, after a series of bullish days, the market has failed to effectively break through the middle track resistance of the Bollinger Bands. Although there was a short-term spike above the middle track, it quickly fell back, reflecting insufficient bullish rebound momentum and a lack of sustained breakout strength. Coupled with the current weak bullish volume, the overall trend remains weak.
Operational Suggestions
Bitcoin 88800—89300 short, target 87000
