The biggest feeling of this week's market is the word "exciting". There have been frequent sharp fluctuations, which have caused unprecedented market sentiment. The recent CZ and BN events have definitely had an impact on the cryptocurrency market. In the long run, it can be seen as a positive development because regulatory intervention indicates that the cryptocurrency market will become more compliant, thereby attracting more funds.

During the weekend, the market remained volatile. Yesterday, after an initial surge, the bulls faced resistance around the 38437 level, and the market saw a rapid decline during the U.S. session, pulling back to around 37550. This wide-ranging volatility has indeed posed a certain level of difficulty for short-term trading. Our initial short position suffered heavy losses, but we adjusted our strategy in time and successfully turned the tables by going long with the rebound and then shorting.

Looking at the technical structure on the four-hour chart, after a series of upward movements, the market turned bearish with increasing volume. In the short term, there is resistance overhead, but the lack of continued downward movement after the overnight retracement suggests that it is not advisable to aggressively chase the rise or fall in the next two days. We should focus on the support and resistance levels on the hourly chart, particularly the range between 38500 and 37400. If these levels are breached, further adjustments should be made. The strategy is to go long during the day and then short in the evening. The positions are set in advance, and the trend is followed. This information is publicly available on Weibo.

Bitcoin: Long in the 37500-37700 range, target 38350, stop loss 37300

Ethereum: Long in the 2060-2070 range, target 2030, stop loss 2130

The above content is for reference only. Investment carries risks, so entering the market requires caution. Friends who have incurred losses, reduced positions, or have had unsatisfactory operations can communicate with the teacher. As the year-end approaches, the discipleship program is open for a limited time, with no threshold and free guidance on how to read the market, including comprehensive guidance and practical application of wave theory, Dow theory, candlestick theory, Bollinger Bands, MACD, KDJ, and other indicators. If you follow, I will impart my knowledge generously.

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