Follow and keep watching for significant gains. Hello everyone, I am analyst Gu Jingci. I share my insights here with the hope that every follower can achieve a good return!
During the Bitcoin/Ethereum market rally, I reminded everyone to enter short positions and add to shorts. The market then declined all the way to the 26,850 and 85,000 levels, delivering significant profits for short positions. After testing the lows, the rebound has not been strong, and the trend remains weak. As mentioned this afternoon, unless the daily chart breaks previous highs, Bitcoin rising above 87,000 has not surpassed the previous daily high of 87,370. If this level is not broken, a double top may form on the daily chart and the trend could weaken further. Look for opportunities after a pullback in the early morning to enter new shorts. On the four-hour and eight-hour charts, a rise followed by a pullback and the Bollinger Bands turning downward indicate weak momentum. Watch for short-term support at the 26,300 and 83,000 levels below.
Early morning trading suggestion: For Bitcoin, continue to short around 85,500 to 86,000, with a target of 83,000 to 84,000; for Ethereum, continue to short around 2,705 to 2,720, with a target near 2,640.
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