Bitcoin has been oscillating in the 61000-62000 range, without making any significant moves. As the US stock market opened in the evening, the price followed a downward trend, with bears continuing to exert pressure. It fell from a high of 61761, breaking below the 60000 mark again, eventually hitting a low of 58115 for support. The current price is hovering around 59500. Ethereum's movements are in sync with Bitcoin, dipping to 1530 before rebounding to around 1560. The evening waterfall decline has once again validated the prediction. Multiple intraday mentions advised against bottom-fishing for longs, as 59000 is not a hard bottom. Just wait patiently for the market to show its direction and then go short accordingly. Those following Lao Yang's strategy have made a nice profit, right? The market never disappoints those willing to wait. All precise entry opportunities are reserved for traders who stay calm and don't rush.

Looking at the current chart, Bitcoin's daily Bollinger Bands are expanding sharply downward, with the price hugging the lower band. This indicates we are in an extreme weak channel of accelerating decline, and the long-term trend has completely turned bearish. The MACD is below the zero line, with the green bars continuously expanding, signaling that bearish momentum has not fully dissipated and is still strengthening! On the 4-hour level, the middle band of the Bollinger Bands is accelerating downward, with the upper and lower bands forming a trumpet shape, amplifying volatility. Any rebound that fails to stabilize around the middle band near 62000 should be viewed as a continuation of the downtrend.

Midnight: Short Bitcoin at 59800-60300, target near 58000
Midnight: Short Ethereum at 1590-1620, target near 1450#BTC下探60000美元关键关口 $BTC ‌$ETH ‌