Mu Feng looks at the trend: The short-selling strategy for Bitcoin/Ethereum rebound on 2/8 has been validated again. What is the outlook for the market?

CN
1 year ago

In the evening, I laid out a short-selling strategy for the Bitcoin/Ethereum rebound. I entered a short position near 100,000 for Bitcoin, and so far, the price has dropped to around 97,000, achieving a maximum profit space of over 3,000 points. For Ethereum, I also set up a short position near 2,790, with a target looking at the 2,690 line, which exceeded expectations, reaching a maximum profit space of over 100 points. Congratulations to those who followed the short strategy; please pay attention to managing the profit range reasonably!!!

Returning to the market situation, the short-term market was affected by non-farm payroll data in the evening, resulting in extreme price spikes (generally, important data or meetings can cause short-term fluctuations in the market, and spikes are particularly common). However, after the data was released, market sentiment clearly declined at 11 PM, indicating that the current mainstream sentiment has been severely suppressed. The short-term market's profit-taking selling is continuously increasing, and the short-term market remains very sluggish. On the daily chart, there hasn't been much technical change; currently, various indicators are basically in a sideways oscillation and downtrend phase. The 12-hour chart shows that KDJ and MACD continue to resonate downward, and BOLL is overall weakening, with the lower band continuing to open. Therefore, in the early morning, the short-term outlook is undoubtedly to continue watching for oscillation and decline. Specific entry and exit timing can be discussed on the homepage!!!

The above is my personal market analysis from the early morning, for reference only. For more real-time strategies and free guidance, click on the avatar to follow the homepage introduction. Welcome to exchange and learn together!

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