Is Ethereum acting up again? A drop of 100 points, will it drop further? And how should we operate with ZEC now? Let's take a look at this from Ben's perspective.

1. As shown in the chart, Bitcoin and Ethereum have now been confirmed as false breakouts with a sharp decline. The trend is very weak. In the past few days, the US stock market and gold have generally risen, but the cryptocurrency market is falling, which itself is a signal of decline. $BTC

2. However, everyone should not rush to short just yet; it has merely dropped back into the consolidation range, finding support in the 2930-2940 area and starting a small rebound. So how should we operate?

3. I personally operate quite conservatively; although I am overall bearish, I will not recklessly short unless this 2930 support is clearly broken. Especially since there are often false breakouts. $ETH

4. Therefore, since it has returned to the oscillation range, I will wait for it to rebound to the upper edge of the oscillation range before shorting. Particularly around 3000 and 3060, entering in batches will be more comfortable. Meanwhile, our long-term short position at 3400 can still be held; ETH is expected to drop to 2000 or even 1500 in mid to late next year, and we can talk about bottom fishing then.

5. As for ZEC, it encountered resistance in the 450-470 range and dropped again. The current support is around 410, and in the short term, we can choose to take profits here, then consider re-shorting when it rebounds to around 430 and 450. $ZEC

6. I must say, this ZEC is really a big sucker! The day before yesterday we shorted at 450 and took profits at 430. Shu Qin instructed everyone to short again when it rebounded, and now it has dropped again. As long as you short at the resistance level mentioned by Shu Qin, it will definitely be profitable. We only short ZEC and do not go long; when it rebounds to the resistance level, we short. After playing for 2 months, I still don’t know how many times ZEC has given us profit from shorting. He's still pretty good! 😂