To bypass the annoyance, move forward towards the dream; to convey hope, run together with companions; to kick away weakness and bravely confront reality.

Last night, the price of Bitcoin presented a pattern of a door-opening market. Whether it was rising or falling, the price showed a hasty trend. As of the time of this post in the morning, the price of Bitcoin was slightly higher near $26,400, oscillating above and below the middle track. The MA240 moving average has a certain suppressing effect on the price, indicating a downward trend. Although the market is still maintaining above the MA240 moving average in the short term, the center of gravity is continuously shifting downwards. In addition, the KDJ indicator is showing a bearish trend, while the MACD indicator is gradually stabilizing, indicating a possible sign of price retracement.

The daily chart shows a hanging man candlestick pattern, which I have also shared before. Looking ahead, various signs indicate the possibility of a change in the market.

Based on the analysis of Bitcoin's market yesterday and the changes in technical indicators, we believe that the price of Bitcoin may have a retracement trend. Traders should remain cautious and can take a short position at $26,600. However, please be aware of market uncertainty and adjust trading strategies in a timely manner. At the same time, it is also recommended for traders to closely monitor changes in the market in order to make adjustments and respond to risks in a timely manner.

Li Xingguo suggests shorting near $26,600 for Bitcoin

Short near $1610 for Ethereum

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