Wednesday, Korean stocks hit the circuit breaker, cryptocurrencies were bloodbathed

Yesterday, Bitcoin was still pushing towards 66,000, but today it collapsed, caused by three key reasons: hawkish comments from the Federal Reserve and potential risks from the US-Iran agreement, plus Korea's stock market circuit breaker today, leading to a collective bloodbath in the crypto space. Bitcoin lost the 63,000 USD level intraday. Can we still chase now? The answer is of course no; chasing highs and selling lows is always a trading taboo.

At this point, analyzing technical structure is no longer very meaningful, just like I told everyone yesterday not to chase high. After an oversell, a rebound is inevitable, so we can't directly short. Intraday, go long first, then short. For Bitcoin, consider the 62,500-62,800 area for a long position, aiming first for around 63,800. If it doesn't break, continue to short, targeting the previous low of 62,200.

Ethereum also lost the 1,700 level, but the decline isn't very large. The overnight high was around 1,765. Now, the rebound space isn't very big, so we can only wait for opportunities and specific levels to go long high. In the afternoon, as the rebound gathers strength for correction, then short during the US session. The reference point is roughly in the 1,735-1,750 area. That's all I have to say—don't get carried away, don't chase deeply, and manage risk well. #我的Gate交易时刻