The cryptocurrency market collectively faced a short-seller strike starting at 6 AM, with Ethereum dropping to around 1714 and Bitcoin hitting a low of around 61340. Institutional funds are constantly withdrawing from the Ethereum ETF, leading to a lack of support from major funds and resulting in exhausted buying orders and continuous selling pressure. BTC broke down first, followed by other cryptocurrencies selling off.

Currently, after a sharp decline, the short-term market is experiencing an increase in volume as the short position is exhausted. Signs of divergence in indicators are appearing simultaneously in the 30-minute and one-hour cycles. The coin price has recovered above the lower band, while the KDJ three-line is turning up from an extremely low level, and the bearish MACD green bars are shrinking. Therefore, it seems like a short-term bottom is forming, awaiting the market to test the resistance around the 1800 to 1835 range, while Bitcoin will test the 64400 to 65500 range.

It is recommended to enter long positions near 1750-1740, targeting around 1800-1820.

It is suggested to enter long positions near 63000-62500, targeting around 64400-65300.

The market changes rapidly; strategies are for reference only, and please manage stop-loss and take-profit wisely.

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