When it drops, it really is too scary, too smooth, making people unable to sleep well, with alarms ringing incessantly. Bitcoin dropped to a low of around 61300 in the morning, and the bottom of the last big drop was only 59800. It is truly ruthless; those who kept averaging down are being liquidated along the way. Betting on a rebound with long positions is not easy to catch, it’s like catching a flying knife with bare hands. Anyway, Zhongliang reminds everyone every day, whether you listen or not is up to you!

Bitcoin's daily K4 has a big bearish candle coming down, and the price has broken below the lower track directly. MACD's bearish volume continues to expand, while both KDJ and RSI are showing signs of turning upward after being oversold. Therefore, one must also be cautious; the drop is fierce, and when it rebounds, it will be fierce as well. The market is originally about rising and falling, falling and rising; after your turn, it’s my turn, the wheel of fortune turns…

On the 4-hour level, after the last K-line pierced 61300, it quickly retracted. The current price has returned above the lower track. The KDJ three lines are entwined with a golden cross pointing upward, and RSI is also making a upward turning action. The MACD bearish volume is shrinking, indicating the need for indicators to repair after such a harsh drop. On the hourly chart, the current indicators are undergoing repairs, with two consecutive green candles following the pierce. So if you bet on a rebound after the pierce in the morning, that's great, congratulations to the long positions for making profits. Now, there’s no need to chase the longs; the rebound has already come up quite a bit. Chasing now could lead to losses, just like a plate of fish. The fish head, back, and belly have all been eaten, leaving only the tail, with little meat and many bones. It’s unnecessary and not cost-effective…

For intraday operations, focus on short positions. The upper resistance to watch is around 65000 and 67000. Participate in short positions around here, with targets looking down at 64000, 63000, and 62000.

For Ethereum, watch the upper resistance around 1830 and 1880 for short positions. Downward support to watch is around 1780, 1740, and 1700.

Every trader is a student of the market, and the market is a strict teacher, giving us lessons every day. The teacher will pose many questions, some easy and some difficult. As students, we need to have great patience and choose those easy and straightforward questions to tackle. We must learn to give up, letting go of difficult and obscure questions. The reason for this is to gain a lot with a little, to make relatively certain profits with the smallest losses. Respect and awe for the market is a humble attitude and the correct way to invest.

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