Cryptocurrency market trends are unpredictable. Especially when the fluctuation range becomes smaller, after a continuous correction, a new direction is usually chosen. This morning, after taking a long position, the market was mostly sideways throughout the day, until a dip in the evening broke below the 80k level. This also broke the previous box structure. So I openly suggested everyone to chase a short position, to catch the continuation of the decline, and the subsequent trend again validated that idea, with Bitcoin dropping 700 points. Trading is not about sticking to one method blindly, but about being flexible and knowing when to take profits or cut losses.

After this wave of pullback, the daily chart briefly tested the support of the midline, and is still hovering around the midline. The overall daily trend remains bullish. This pullback is still within a healthy correction range. The hourly Bollinger Bands have started to contract, indicating that the bearish momentum is gradually weakening. The next move is likely to be sideways consolidation or a rebound. Therefore, early morning, I suggest everyone consider buying on dips, and observe the strength of the rebound first.

Bitcoin is above 78,800, watch for 80,500
Ethereum is above 2,240, watch for 2,300