A week has passed in the blink of an eye, and this month is already halfway over. We are very satisfied with the overall results of our strategic layout last week. During this process, we smoothly gained a space profit of over 3000 points for Bitcoin and about 200 points for Ethereum. The characteristic volatility of this week's market is very easy for us to grasp. If we can grasp this back-and-forth market movement well, we can simultaneously gain both long and short profits. However, if we do not grasp it well, we will face the risk of both long and short losses.
After the weekend's volatile correction, the Bollinger Bands on the four-hour chart did not continue to contract, which means that the slow oscillation will not continue. On the daily chart, the upper Bollinger Band is no longer extending upward, indicating that the bullish momentum has passed. Looking at the recent market trends, neither the long nor short positions have been sustained, showing a cyclical trend. Due to the strong bearish sentiment, we will continue to focus on short positions with long positions as a secondary strategy.
For Bitcoin, the personal operation suggestion is to short near 26700-26800, with a target of 26000.
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