In the past week, there was a decline for 6 days, and over the weekend, some rebound was welcomed. Those who bottom-fished began to cheer again, feeling like they had it figured out, even fantasizing about the price rising to 100,000. But don’t be too eager, take it slowly! For those shorting, it must feel nervous. Perhaps they didn’t hold the previous highs or missed out, and now seeing the rebound, they want to short but end up getting stuck. Holding onto it, they fear it might rise and cause them losses, yet fear that if it continues to fall, they will exit too early and then regret it; is that so?

On the daily chart, a small bearish candle with a long lower shadow was formed yesterday, and the price is back above the lower band. The MACD bearish volume is starting to shrink, KDJ’s three lines are converging with a golden cross upwards, and the RSI is also turning upwards. From the indicators, there is a demand for a rebound correction, and indeed a rebound is underway. On the 4-hour chart, the three lines of the Bollinger Bands are showing signs of widening upwards. The price is oscillating around the middle band, staying above it, with MACD bullish volume continuously increasing, but KDJ shows signs of turning downwards. On the hourly chart, the price is also above the middle band, but the upper band is flattening, not continuing to widen upwards. KDJ and RSI are both turning upwards, while MACD’s bearish volume has not yet shrunk. From the indicators, there is demand for a rebound, but the volume is insufficient, and the price continues to oscillate.

There is a way of moving that is called oscillating instead of rising. And there is a way of falling called a continuation of the downtrend. It has already fallen so sharply, so it is normal for the indicators to repair; otherwise, there would be no entry opportunity for shorts. The rebound is for a better decline, the rebound is for greater profits on short positions, remember this principle! As for shorting, after such severe declines, if there were no significant profits taken, then now wanting to heavily short, or shorting at what point becomes a bit difficult; the large space of bearish movement has already played out. Now, shorting, one can only do so lightly, trying slowly at those resistance levels. As for which resistance level will have an effect and bring the price down, who knows…

For Bitcoin, keep an eye on the resistance at 64,000 and 66,000. Short positions should aim around here, while the support below to focus on is 63,000, 62,000, and the 60,000 level.

For Ethereum, the resistance to watch is at 1,650 and 1,740. Short positions should aim around here, while the support below to focus on is 1,600, 1,550, and the 1,500 level.

In today’s world, a sense of urgency runs through everything – rushing to get rich, rushing to establish oneself. It is hard to watch others enjoy the fruits while one only sips the soup, yet little do they know that behind enjoying the fruits is blood and sweat. When in cash, one hurries to enter the market; when in unrealized losses, one rushes to escape; when in unrealized profits, one rushes to secure them. However, all this urgency brings no benefits; rather, it leads more towards destruction, eagerly wanting to become a large tree, without caring about whether the inner essence is hard or not. A single cut can end it all. Waiting in trading is easy to miss, but being anxious easily leads to losses; missing out is much better than incurring losses. Time, with its uniquely harsh way, gradually makes people more magnanimous, understanding that no matter how treated by the market, one must still promise oneself that tomorrow will surely bring sunlight.

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