Good morning everyone, I am Jiang Xin. Since the 2nd of this month, Bitcoin has dropped by tens of thousands of points. A rebound of half is not unreasonable. Last night, Bitcoin provided an opportunity to add to short positions at 104,200, while Ethereum was stopped out. Although during the day and even in the future, Ethereum is still falling, a single-day rebound of over two hundred points is enough to clean out some people. Clearing out leverage and continuing the direction is an important part of correcting market sentiment.

If Ethereum is really going to rise in the future, the one-hour candlestick and trading volume will be the intertwined yin and yang that counteract each other, rather than just a brief drop from the previous level around 3480. This indicates that the market will very likely only clear out one round of short leverage, ultimately continuing the direction. How it went up yesterday is how it will go down today. Bitcoin has already moved ahead of Ethereum, and we can see that Ethereum's indicators do not need to be looked at; we just need to wait for it to drop.

Regarding mid-month, we can see that both Bitcoin and Ethereum will explore lower levels again. The volume of short positions cleared during the rebound process compared to the volume of long positions that were liquidated in the market is not on the same scale, and the impact on market sentiment is not of the same magnitude. In other words, if there is no rebound like this, how can we attract retail investors to come in and help them get out of their positions? Picking up chips on the corpses of bulls will only make retail investors feel like they couldn't hold on, and naturally, the market will disappoint them again in the future. Just wait and see.

Yesterday's analysis of the future market was based on having obtained significant results, continuing to favor suppression, and a reasonable inference of direction continuation. The rebound was a bit hasty. However, it does not affect the recent direction. I left a comment above, highlighting this opinion: in one sentence, if you have an opinion, just be a counterparty, then your positions will only appear in history.

Walking with giants, WeChat public account: Jiang Xin on Chan

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