Wednesday morning thoughts:

The midnight market situation "plummets", with the pullback pattern continuously deepening. The bulls are temporarily unable to counterattack, while the bears' downward momentum is constantly strengthening. Looking back at the trend, the evening market first surged and then faced pressure: Bitcoin reached a peak of around 116,000, and Ethereum peaked at around 4,170. Subsequently, the significant fluctuations at high levels exhausted the upward momentum, and the bottom support was continuously broken. The bears strongly dominated the market, and ultimately, Bitcoin dipped to a low of around 112,100, while Ethereum fell to around 3,925, with the downward trend further strengthening. In terms of operations, the midnight live trading for Bitcoin long positions unfortunately faced liquidation, but Zhuowei promptly adjusted the strategy, positioning for short positions in line with the trend, successfully recovering losses. Currently, the cryptocurrency market is volatile, and only by flexibly adjusting operations can one stand out in the market.

The current market is overall in a downward channel, and the bearish trend has not yet concluded, with further room for a pullback. From the four-hour perspective, the support at the middle track is weak and has been strongly broken, currently continuing to decline in a "four consecutive bearish candles" pattern, with significantly insufficient ability to withstand pressure at the middle track, and the bottom support has also shifted downwards. Observing from the hourly level, the market is currently oscillating within the bottom range, with the K-line repeatedly testing the strength of the bottom support. The previous pullback has thoroughly opened up the downward space, and the resistance to continued downward movement is relatively weak; bears completely dominate the market rhythm, with the previous key resistance levels being consecutively breached, and bulls have no ability to counterattack. The subsequent layout continues the pullback pattern, and a rebound can be shorted.

Short in the range of 113000-113500 for Bitcoin, target below 11.
Short in the range of 4000-4030 for Ethereum, target below 3900.

#今日你看涨还是看跌？