Midday Thoughts 4.2:

In the past, both long and short positions were common mistakes made by some novice traders. While it may seem profitable on the surface, it can actually affect the judgment and operation of the overall trend. The support of a declining market is definitely used for selling or exiting short positions, rather than attempting to counter-trend for a rebound. The resistance of a rebound becomes the key to entering and continuing with trend trading. The habit of not holding onto profits is a common problem, mainly due to a lack of understanding of resistance, support, and the investment mentality of the overall trend. In the stock market, being accustomed to making profits has often led to holding positions and breeding greed in both long and short trades.

The morning market was a bit tricky, with a small loss of 500 points on long positions, and then directly switching to short positions. When it's time to cut losses, one must do so. With the upcoming Bitcoin halving, the market has been unclear and difficult to understand. The short positions arranged in the morning have already made up for the losses, but I have been waiting and missing opportunities. Currently, the price is around 66,600.

Bitcoin Market Analysis: The morning's decline caused the price to break through the lower band of the Bollinger Bands. The break of the upper shadow line indicates that the bulls are facing significant obstacles. The solid closing of the hourly line has not stabilized above the upper band, and the short-term price is likely to continue to be pressured by the previous high point, leading to a pullback. On the 4-hour chart, the MA moving averages are moving forward, the KDJ stochastic indicator lines are converging downward, the red MACD momentum bars are starting to shrink, and the fast and slow lines are moving parallel forward. All of these provide ample evidence for our view of a declining price. In short, as long as the midday price runs below 67,500, there will likely be at least a $1,500 drop within the day. Operationally, it is recommended to execute high short positions.

Bitcoin Strategy: Short near 67,500-68,000, target 66,000.

Ethereum Strategy: Short near 3,400-3,420, target 3,300.

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