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The midday market generally rebounded as expected to around 77,500 before facing resistance and pulling back.
This rebound was also something we anticipated in advance; our morning live broadcast and daytime strategies have been keeping everyone updated, simultaneously reminding that the market might experience a certain rebound.
Pay attention to around 77,200 before considering adding to short positions.
Currently, the real trading is also aligned, with the average price now around 76,900.
Ethereum also continued to rise as we expected, reaching the 2,340 level before facing resistance and pulling back.
It has just reached the key resistance at Fibonacci 23.6%, which was also the re-entry point we mentioned in the morning live broadcast.
The current average price has been raised, waiting for increased selling volume to trigger a decline.
The market is still in a double-top pattern, forming after a bottoming out and a phase of rebound.
The rebound has now reached the previous oscillation zone’s bottom, with the possibility of a top-bottom reversal still present.
Short-term bullish volume is increasing, but this is not a trend reversal.
The current position is not at the critical neckline of the double top pattern.
The current trading range is not at a key reversal point, and this round of correction will not end here.
Short positions can still be held patiently, with a continued bearish outlook, focusing on the 75,000 to 76,000 range at the bottom.
For Ethereum, the rebound just touched the Fibonacci retracement level of 23.6%, facing downward pressure.
A further decline with increased volume would occur if the bottom breaks through the 2,165-2,150 range, which is also our target for this round of short positions.
Yes, repairing life.
In the short term, friends entering short positions can patiently add to their positions and hold, while those already in short can consider entering directly.
Bitcoin can be shorted between 77,000 and 77,500, with a target of 76,000 to 75,000.
Ethereum can be shorted between 2,325 and 2,340, with a target of 2,280 to 2,260.