This week has absolutely been a nightmare for the bears. Although there were no drastic declines, waterfalls, or crashes like before, the constant slow drop this week, like a dull knife cutting flesh, is actually more cruel and painful than a sudden fatal blow. Every day gives people hope to catch the bottom, making them feel like it has dropped enough, yet it continues to slowly dip. The bears have been blown out wave after wave, without end... Anyway, Zhongliang has always been encouraging short positions, never giving a single long position. He has been constantly emphasizing and reminding to bet on a rebound for long positions, as if catching a flying knife with bare hands; if not done well, one could get hurt. Now it seems this is not just catching flying knives bare-handed; it’s like catching hand grenades bare-handed, leaving no trace behind!

This week, Bitcoin has brought everyone down from the 67500 short, 64000 short, all the way down, while Ethereum has seen shorts at 2000, 1900, 1800. Those who kept up have already feasted, while those stubbornly catching the bottom are probably silently shedding tears. You can catch the bottom, but it must be spot, not contracts; this needs to be distinguished. The bottom is never caught but is trapped out. Everyone's bottom is different. If you want to catch the bottom, please remember to use spot!

Bitcoin has formed six consecutive bearish daily candles, with prices continuously pressing downward below the lower band, now staying below the lower band for three consecutive days. MACD's bearish volume continues to expand. On the 4-hour level, although the price has returned above the lower band, the three Bollinger bands are all opening downwards. KDJ and RSI have turned upwards, but MACD's bearish volume continues to diminish without volume; the indicators have a need for repair, yet the price cannot seem to rise. On the hourly chart, the rebound is constantly pressed against the middle band, with high shorts still the main strategy!

For upper resistance, pay attention to 62000 and 63500, with high shorts participating around here. For lower support, pay attention to 61000, 60000, and 59000 levels.

For Ethereum, upper resistance is at 1620 and 1700, with high shorts participating around here. Lower support is at 1580, 1530, and 1480 levels.

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