Market Review

Once again, a precise arrangement has been made, and a good start has been made for the week. In the arrangement provided to everyone yesterday, we first clarified our firm bearish view for the day and clearly gave the short-selling suggestions for Bitcoin at the current price of 37500 and Ethereum at 2060. With the slow downward oscillation in the morning session, the midday market as expected saw a retracement. Bitcoin fell below the key level of 37000 to a low of 36700, and Ethereum experienced the largest decline to reach 1985, successfully capturing over 700 points for Bitcoin and over 60 points for Ethereum to complete this round of arrangement and profit-taking.

Market Analysis

One wave subsides and another rises, following the conclusion of the BA incident, TRON is now embroiled in a storm. Recently, under the control of the US Department of Justice, BA was fined a hefty sum and successfully "integrated" into Wall Street's control. It was thought that with the event over, the cryptocurrency market could take a breather and wait quietly for the arrival of the bull market. However, the US Department of Justice has recently turned its attention to TRON, launching a close investigation into TRON's founder, Justin Sun, accusing him of suspected money laundering, illegal transactions, and other illegal activities. It should be noted that even the cryptocurrency market's leading giant, BA, suffered a defeat, acquired a reputation for inadequate regulation, and was fined a hefty sum, leading its founder CZ to step back and possibly face imprisonment. If the big brother could not escape, what about the little brother? After all, decentralization and money laundering are a perfect match for cryptocurrencies. Although this event has not yet materialized, we still need to be vigilant.

As for the market, although the recent decline successfully defended the 4-hour MA120 moving average, the breach of the key levels for Bitcoin and Ethereum indicates the vulnerability of the lower levels. The downward trend at the daily level is just beginning, and the medium-term correction has not yet arrived. Combined with the current unsuccessful breakthrough of the previous high, we still maintain a bearish stance.

Intraday Suggestions

For Bitcoin, consider placing short positions around 37300-37600, with targets at 36800-36500.

For Ethereum, consider placing short positions around 2035-2055, with targets at 1985-1965.

For more strategic guidance, follow Yunshe Weibo, 500,000-follower financial analyst: Blockchain Yunshe

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