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Others are on vacation for entertainment, while experts quietly lay out their plans. Opportunities are always reserved for those who are prepared, patient, and disciplined. Stick to the right rhythm, and profits will naturally arrive as scheduled.
This morning, Bitcoin first surged higher to attract buyers, touching the daily high of 79,145, then turned around and started a one-sided decline, smashing down to a low of 78,027. The bearish outlook given earlier was perfectly fulfilled, and the short position gained steadily from this main decline, with a smooth profit of 647 points. While others are resting during May Day, we continue to precisely follow the rhythm and take profits.
On the four-hour chart, I still firmly remain bearish. Opening the Bollinger Bands, I see all three lines pressing downward, and the price still stuck below the middle band—definitely a bearish structure. Two criteria: First, now if there's a rebound, dare to test the middle band; if there's no volume to follow, it’s an opportunity to short. Second, the lower band is still opening downward, indicating room for further decline. When the closing price firmly moves back above the middle band, then we can talk about turning bullish; otherwise, treat any rebound here as a dead cat bounce.
Trading suggestions:
Short around 78,800 on Bitcoin, target 77,300
Short around 2,336 on Ethereum, target 2,276
$BTC $ETH