Bitcoin Market Analysis

Every persistence is an accumulation of success. As long as we remain confident, we will eventually reap surprises. A new day has begun, good morning everyone. Let's briefly review yesterday's market. Overall, it presented an inverted "N" shape. Bitcoin turned downwards from the high point near 71,500 in the morning yesterday, dropping to around 68,100 in the evening, with a decline of over 3,000 points. We also took two opportunities to trade from the high to the bottom, accumulating a profit of around 2,000 points. This kind of market is still very easy to trade, grasp the overall rhythm, follow the trend, and leave the rest to time, basically it's all about picking up profits effortlessly.

From the current overall structure, after dropping to around 68,100 in the evening yesterday, Bitcoin did not continue to probe lower, and there was a small rebound in the evening, but the rebound strength was not particularly strong. Looking at the hourly chart, the high point has not yet broken through the rebound position from yesterday evening. Currently, it is still suppressed by the 30-day moving average, giving a sense of overall weakness. The morning strategy is still to participate in short selling at the high. Such morning rallies are easily followed by a decline, just like yesterday morning. Currently, the overall market sentiment has not reversed, so continue to participate in short selling.

Ethereum Market Analysis
Ethereum also experienced a direct decline of over 200 points yesterday, after finally rising during the weekend. It dropped from around 3,660 to around 3,413 in the evening. Yesterday's market was quite in line with our expectations. We also directly shorted from the high point. Ethereum also accumulated a profit of over 100 points yesterday.

The morning market once again rallied from the low point. Those who understand know that the current market has almost no continuity. It rallies and then falls back. Looking at the hourly chart, the current position has reached the level of the midday drop from yesterday. That position did not form support yesterday. Therefore, from the current market perspective, Ethereum can continue to participate in short selling in the morning.
Bitcoin morning strategy: Short near 69,800, target near 68,800
Ethereum morning strategy: Short near 3,515, target near 3,456
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