Morning Thoughts

At the start of the week, the market plunged directly, successfully hitting 76,666, and the bearish outlook given over the weekend was accurately realized!

As the new week begins, after ending weekend volatility, Bitcoin quickly declined in the early session, touching a low of 76,600 before slightly rebounding, currently quoted around 77,100. The previously persistent bearish forecast has been fully realized, with the market showing weakness, and the rebound still dominated by selling.

The daily chart broke below the short-term moving averages, with EMA15 clearly under pressure, MACD red bars shrinking, indicating waning bullish momentum, Bollinger Bands narrowing, and price moving along the middle band downward, suggesting a overall bearish correction on the daily chart. The four-hour moving averages formed a death cross, with price running close to the lower Bollinger Band, MACD green bars below zero continuing to expand, indicating strong bearish force, with the market forming a pattern of lower highs and lower lows, confirming a short-term downtrend.

Trading Strategy
For Bitcoin, short in the 78,000-78,500 rebound zone, with a stop loss at 79,000, first target 76,000, and if broken, follow the trend to 75,000.
For altcoins, short in the 2,130-2,160 rebound zone, with a stop loss at 2,200, first target 2,070, and if broken, follow the trend to 2,030.