Do not bet against the market, such as "I don't believe it won't rise"; as a result, you end up losing more. Do not engage in revenge trading; after a liquidation, wanting to recover immediately often leads to even greater losses. Stay calm, emotional trading = suicidal trading. The market specializes in dealing with defiance; the more stubborn you are, the harsher it gets.
This week's market is also about to end its course. Reviewing the overall market trend this week, the general trend showed an initial rise followed by a drop. Bitcoin reached a high of around 72000 and has already faced pressure, and this week, Bitcoin and Ethereum prices hit recent lows again, with Bitcoin hitting a low of around 65500 and Ethereum hitting a low of around 1960.
We mentioned in our live stream on Friday evening that everyone can still participate around high shorts, with Bitcoin targeting 65000 and Ethereum targeting 1930; all short positions should take profit! This week, we also had great gains, accumulating a total of 10306 points in Bitcoin and a total of 354 points in Ethereum!
On the four-hour level, the price encountered a slight rebound after a strong correction, but this rebound is limited, showing that upward pressure still exists in the market, which is currently in a power accumulation phase, with bearish energy ready to emerge. Switching to the hourly chart perspective, the price remains in the middle-lower range after a rapid correction, and bearish momentum is re-emerging, with the bearish energy column slightly strengthened. In the short term, although the market may continue to experience slight rebounds, given the multiple solid resistance levels above, shorting during the rebound currently seems to be a good choice. In the short term, the market will continue to rotate in a complex environment of mixed long and short positions, with the trend fluctuating like waves—sometimes rising strongly, sometimes stagnating and falling. Even if the downward trend begins, it can rebound quickly, and the speed of the conversion between long and short is astonishing.
Therefore, in the short-term market structure, blindly chasing a one-sided trend may lead to a passive predicament. The evolution of market trends does not happen overnight; it follows the natural law of fluctuating rises, short-term rebounds, and then retractions, which is indeed the healthy pace of the market's steady progress. We still maintain a high short participation strategy for the future market.
Bitcoin: 67500 - 67000 can short, target 65000
Ethereum: can short near 2020, target 1950
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