Bitcoin's rebound is weak and is facing pressure step by step. Next week, we will look for a second test of the 80,000 mark!

CN
1 hour ago

The volatility over the weekend was not significant, so I didn't update the market. I had a bit too much to drink on Friday night and spent Saturday recovering. I remember updating a post on Friday night, mentioning that 93000 and 3100 were the highs. This week, shorting hasn't been as comfortable, starting from 88000, then 88800, 91000, 92000, and 93000. For Ethereum, I shorted at 2950, 3050, and 3100. My view remains unchanged, and I continue to hold my short positions. The bears are about to counterattack, and victory is imminent. Next week, I expect a second test of 80000 and 2600. Whether the shorts can hold depends on everyone themselves!

After being pressured by a triple top on the monthly Bitcoin chart, a bearish close this month is inevitable. With two consecutive large bearish candles, the MACD fast and slow lines have crossed downwards, and bearish momentum continues to increase. The KDJ and RSI indicators are both turning downwards, and the overall trend remains bearish. The weekly chart shows a double top at 126200 being pressured downwards, forming a triple top at 115000. Currently, the middle and lower bands of the Bollinger Bands are opening downwards, with the price below the lower band, unable to stabilize within the bands, and MACD bearish momentum continues to increase. On the daily chart, both the middle and upper bands of the Bollinger Bands are opening downwards, with the middle band pressing lower. After two consecutive days of bullish closes, the KDJ and RSI indicators are turning down from high positions, and a rise without volume is a trap for bulls. From the low of 80600, the price rebounded to a high of around 93000, with a rebound of over 124000 points already in place. Be cautious about chasing the rise; if positions are not managed, the bears have already been wiped out or stopped out. The remaining bears are battle-hardened and resilient, looking to test 80000 and 2600 to see if they can break through or if there will be a second bottoming rebound.

If this wave tests 80000 and 2620 again without breaking, and then rebounds, the next high short position will be at 102000, and at that time, I will also consider participating in long positions. I did not go long during this rebound but instead shorted and got trapped, which I feel guilty about. Short-term positions are indeed exhausting to manage, so I didn't remind everyone, fearing that switching between long and short would confuse everyone.

For those without short positions, 91000, 92000, and 93000 are all high short positions for Bitcoin. For those already holding short positions, be patient and continue to hold. For short-term shorts, you can look down to 89000, 88000, and 86000, while long-term shorts should aim for 80000.

For Ethereum, if you don't have short positions, then if 3050 and 3100 still provide opportunities, you should cherish the chance to short. If you have already shorted at 2950, 3000, or 3050, continue to hold patiently. For short-term shorts, you can look down to 2900, 2800, and 2700, while long-term shorts should target 2600.

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