5.5BTC/ETH Market Outlook:

Yesterday, the V-shaped rebound kept happening. If you're someone chasing the rally and selling off on dips, you might get taught a lesson back and forth. It first rose from 78,200 to over 80,500, then retraced near 78,100 at a high point, and in the evening, it rebounded again to around 80,500. Who can handle this? Like a roller coaster. The US and Iran have some movement, and it immediately shows up in the crypto market. Meanwhile, Zhongliang, who’s been shorting all the way, got caught and called a dog, but there's no choice—he has to share, can't be a dead dog!
Bitcoin can avoid shorting, but don’t chase the rally directly around 80,000. That’s the first point to emphasize. The bulls have been strong recently, making huge profits, no doubt. But around 80,000, don’t chase the rally directly, or a slight pullback could be uncomfortable. If you don’t have positions, it’s also not recommended to keep guessing the top on the left side, keep trying to short, because it’s easy to get caught and too exhausting… As for listening to Zhongliang’s crazy talk, if you shorted around 78,500 and are now caught, then survival is the priority. For those who shorted around 76,000 earlier, manage your positions carefully—survival is the key! Survival is the key!! Survival is the key!!!
Once the market pulls back, reduce your shorts or take profits to break even. Be sure to watch out for forced liquidation, don’t blindly add positions to average up, as it only brings the liquidation closer. This bullish structure makes it hard to guess the top, so shorting is purely trying to catch the top on the left side, which is easy to get caught. If there’s a high-level pullback, the support at 77,000 must hold. If it breaks, the bullish upward structure is broken, and the bullish trend may come to an end.
In the short term, you can rely on the support at 78,500 to try low buy longs. If there’s a small pullback, it shouldn’t break below this level. Going long here and aiming for 80,000 or 81,000 can still be profitable. If there’s a big pullback, consider adding a long at 77,000 with a small stop loss. If it breaks below, the bullish trend will struggle to continue, and the rebound will end.
Ethereum isn’t as strong as Bitcoin, and fearing a follow-up rally, the strategy should mainly be low buying. Watch the support at 2,320 on the downside, the middle band of the daily Bollinger Bands. Going long here and aiming for 2,400 or 2,450 can still be profitable. Don’t chase the rally; try low buy with small stops. If it breaks below, the bullish momentum weakens, and the trend can’t continue.
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