Hello everyone, long time no see, I am your old friend Mr. Jiang. Actually, it’s only been a few days, but we all know that one day in the crypto world is like a year in the real world. Because for some people, what they earn in a day can cover a year of exhaustion.

Last week was a complete reversal for the bears, and some friends mocked me as the "reverse Jiang." I have nothing to say about it. This period of losses and the process have already tormented me. Recently, I visited Leshan to pray, hoping that my luck will improve in the future.

The direction given last week was a back-and-forth grind of chasing highs and cutting losses, while the trend was completely reversed. Aside from the different direction, the movement space was actually the same. The fact that it turned out this way indicates that the style is not suited to the current market, so I made adjustments for two days and withdrew some funds from the stock market to re-enter the crypto space. Let’s briefly review the recent price movements.

Ethereum started a nine-hour consecutive rise from 5 AM on the 23rd, rebounding from around 3700 to around 3900. After a brief tug-of-war here, it fell back to 3800 and received another boost from the bulls, achieving three consecutive rises to 3920 before being blocked again, returning to 3820. This segment saw two rounds of back-and-forth around 3880, with a clear divergence in volume and price, and the bottom was elevated. Despite this, it only widened the divergence, and there were still no signs of a bottom being formed.

Two purchases at noon and 8 PM on the 24th pushed the price above 4000, which hit a lot of high-leverage short positions. The subsequent three sell-offs did not break the divergence point. Instead, a small amount of buying pushed it back to around 3900, and over the weekend, it continued to consolidate above 3900. Yesterday afternoon, the bulls ignited the market, followed by a series of boosts in the evening, and three consecutive boosts in the Monday morning session, pushing the price up to around 4180 and 4250. The important tug-of-war points in this process were 3920, 3980, 4050, 4120, and 4200, with the key contention area being around 3920.

The overall trend of Bitcoin was the same, with a series of ignitions over the weekend pushing it up to 112500, 113600, and 115200. This high-level buying push was a devastating blow to the short positions. After this liquidation, how the market will move next is not easier than before.

I suggest everyone pay close attention to the points mentioned above, as they are not only current but also divergence points from previous market segments.

For the future market, we should consider two possible scenarios. In the better structure, it will first break through 4120, then return to 4000 once, and oscillate around four thousand. The corresponding point for Bitcoin is 113600, with a dual range of 112500. We will keep an eye on this.

The other possibility is a rebound from the recently tested 4130 area, reaching around 4280-4300, while Bitcoin corresponds to the range of 117500-118000. We are not focusing on this path, but we cannot ignore it.

Therefore, I suggest placing a low-leverage light short position in the range of 115200-115500 at the current price, adding a position around 116500, and a second addition at 117500. For Ethereum, short at the current price around 4180, add a position at 4225, and a second addition at 4275, treating it as spot trading. If you want to consider heavier positions, you can only think about the addition range. You have also seen the recent market; it is not suitable for high-leverage survival.

If you want to go long, conservatively enter long positions around our short target, which can be around 113800, with an addition at 112800, while for Ethereum, light long at 4120, with an addition at 4050. This way, regardless of how the market moves, it will be easy to exit. We prefer to handle it with shorts; going long is just a suggestion for the opponents.

Phoenix Nirvana, you all know the next line.

Heaven does not bestow a sharp sword; I forge my own brilliance.

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