Friday Night Thoughts

Being bearish for a moment feels good, staying bearish feels even better. On Friday afternoon, the Bitcoin market continued its strong downward trend, with the price dropping steadily to a low of 80,600 before stopping. Currently, there has been a slight rebound with the price recovering to around 83,300. Ethereum also saw a steady decline in the afternoon, with the price hitting a low of 2,620 before rebounding, and now it's back up to around 2,730. In the afternoon, Sheng again suggested a bearish strategy, entering short positions on Bitcoin and Ethereum at around 83,401 and 2,733, and exiting at 81,203 and 2,632, respectively. The Bitcoin short captured a 2,200-point range, while the Ethereum short captured 101 points.

Looking at the current chart, the four-hour timeframe shows a weak bullish rebound after a series of sharp bearish candles, with the price attempting to test the 80,000 mark. Although there hasn't been a strong breakout, bearish momentum continues to be released, and weak sentiment is being expressed; a breakout seems to be only a matter of time. Overall, the market is still dominated by bears. On the one-hour chart, the market is showing a staircase-like downward pattern. Although there are signs of a slight bottoming out, considering the overall trend, a bull trap can't be ruled out. The current rebound is likely just a technical correction within the downtrend, so we will continue to favor shorting after rebounds tonight.

BTC: Short around 84,000-83,500, target 80,000
ETH: Short around 2,750, target 2,600
#逆势上涨币种推荐 #美联储会议纪要将公布 #比特币行情观察