Good evening everyone, I am Jiang Xin. I have been wanting to make a trend these past few days, but I feel a bit passive, and it’s becoming increasingly so. However, I believe that dawn is about to arrive; before the first light appears, it is always the darkest hour of the night. Let's briefly review the market movements.

Last Thursday night, after Bitcoin dropped to around 107,500, there was intense trading, and after bouncing back to around 109,000 on Friday afternoon, it was subsequently sold off to around 103,400, which aligns with our expectations. After the oversold rebound, Friday night’s trading settled above 106,500. Over the weekend, it continued to consolidate in a narrow range between 106,500 and 107,500.

During this process, there was no seesaw structure, no stable trading volume. By Sunday afternoon, Bitcoin tested the range up and down twice. After a spike to around 106,000 at five o'clock, it broke through that range, reaching 108,200, and after a pullback, it began to oscillate upwards. By two o'clock this morning, Bitcoin broke through 108,800 to hit a new high, but faced resistance at 109,200 and fell back. After a pullback above the weekend consolidation range of 107,500, it launched again, achieving six consecutive hourly gains, pushing to new highs, reaching around 111,500, which was the last divergence point. The rebound at 110,500 did not gain traction and has already turned down. We can consider 111,500 as a short-term high.

The hourly movement of Ethereum is basically similar to Bitcoin. The intense trading area over the weekend was around 3,850 to 3,900. On the afternoon of the 19th, after Ethereum surged to 3,920, it spiked down to 3,800, which was the starting point of the weekend's oscillation. In the next hourly candle, it spiked to 3,928, marking a new divergence point. In the evening session, it contested the range of 3,980 to 4,020. Since it did not break above, it fell back in the morning, stopping just at the divergence point of 3,920. The recovery process during the day was influenced by Bitcoin's sentiment; we can see Bitcoin reached new highs, while Ethereum did not rise much. It is currently back around 4,020.

Throughout this process, the important levels for Bitcoin are 111,500, 108,800, and 106,500, while for Ethereum they are 3,820, 3,880, 3,920, 3,980, 4,020, and 4,080.

You can see that Ethereum's movements are completely in line with segmenting and suppressing short positions. There is no seesaw upward movement or accumulation structure, nor is there a short squeeze structure. Instead, there were two rounds of liquidation of micro strategies and robots, with more long positions being liquidated than short positions during the high-level oscillation process.

Looking ahead, we still prioritize short positions. If you haven't entered early, here are the points for heavy shorting and rolling over shorts at seven points. Since we are trapped, everyone can follow my rhythm. Because everyone's ratio is the same.

For those who are flat, you can short at 4,050 to 4,080, add to your short at 4,115, with a stop loss at 4,145. For short positions, first look towards 3,980, then see if it rebounds a bit at 3,920 before looking at 3,880. Throughout this process, we expect a downward oscillation. Possible rebound points are 3,980, 3,920, 3,880, and 3,820. Rebounds should be taken in segments based on market conditions, rather than holding onto the range.

For Bitcoin, the short range is between 110,800 and 111,500, with an initial target of 118,800 during the day, and later looking towards the oscillation starting point of 106,500.

In the latter part of this month, we won't look too far ahead, but will watch for a return to 104,500 and 3,650.

The market has been a bit chaotic these past two days. When we entered the market over the weekend, our short positions were trapped. For specific adjustments, please pay attention to the public account: Jiang Xin on Trading.

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