It was made very clear during the day that the structure of the short-term trend is not a process of pulling back to confirm support, but rather that a pullback is about to begin. Therefore, without much hesitation, I directly advised everyone in the early morning to short during the rebound. This thinking was emphasized multiple times, and sure enough, it pulled back directly in the early morning. I specifically advised to short at 94800, and when it reached 91500, we captured over 3300 points. In the evening, Ether had a rebound that reached around 3200, and in the early morning, it pulled back to 3000 to exit, gaining 200 points. It’s getting late, and the charts I’ve been watching all night also need a break. After all, the market never ends, and taking care of your health is the most important thing. Since the short-term has confirmed it is not going through a time cycle but rather slowly moving into a rebound for correction, there’s no need to overthink, just buy on the pullbacks.
At the four-hour level, the tail step is currently in a strong downward trend. However, this wave has a large space for release, and future movements will be accompanied by winding fluctuations, with a step-by-step approach causing the volatility base to widen, continuously setting new lows, while also accompanied by rebound-like rapid rises, which is a rebound movement after local bottoming. Overall, it is still maintaining a small step oscillation in a slow downward trend for the time being. For the current bears, do not underestimate the strength of the bears just because the decline is significant. Every rebound is an opportunity to enter the market, and today we continue to maintain a bearish rhythm. As for the current market, every round of decline has seen rebound corrections, which has become a norm. Rebounces often give hope to the bulls, but in reality, they are merely normal adjustments building momentum. Today, maintain good defense and confidently short the market.
Operation suggestion:
On Tuesday morning, Bitcoin can be shorted at 92000-92500, with a target to focus on 90000.
You can short around 3020-3050 for Ether, target to pay attention to 2900.