Gu Jingci: 5.11 Bitcoin/Ethereum Morning Trading Strategy and Market Analysis



Bitcoin/Ethereum experienced another wave of upward and downward fluctuations followed by a rally from midnight to the morning, with the highest reaching 82,400 and 2,383 respectively. Bitcoin is only one line away from the recent daily high of 82,800. Our weekend setup of a high-range short position was also forced to exit due to unexpected losses; if you're wrong, you must admit it. This indeed was not well executed. Currently, the market has risen to below the high point; future focus should be on the breakout of 83,500 and 2,430. Without a confirmed breakout and stabilization, the market may form a double top pattern and decline again. At this stage, there's no need to look for a breakout rally; simply short near the resistance levels where repeated attempts to push higher have failed.

Trading suggestions: Short Bitcoin near the current price of 82,300 to 82,800, with targets around 79,000 to 80,000; short Ethereum near the current price of 2,380 to 2,400, with targets around 2,250 to 2,300.
BTC-0.22%
ETH-1.82%
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GuJingci
· 14h ago
Just charge forward 👊
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LikeMaple
· 05-10 23:57
President Gu is the only one who admits mistakes, unlike others who are always right and have never been wrong.
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