Saturday morning: Jingyi’s thoughts — sharp drop and rebound, follow the trend to go short on rallies.

Have a great weekend, everyone, pals! Early this morning, the US-Iran conflict was quickly de-escalated, and geopolitical risk remains limited. Last night, US stock markets, especially chip stocks, fell sharply—this was mainly a washout by major players.

After a big drop, BTC saw a modest oversold rebound. This is a repair phase in the middle of a downtrend. Last night, after placing a sell position at the current price to refill the short “cage,” the average price is still around 596. I still hold. Currently, the MACD bearish energy has narrowed somewhat, and the KDJ turns upward from low levels, but the rebound strength is relatively weak. The overall downward trend has not reversed. Prefer shorting at rebound highs and be cautious about trying to catch the bottom.

BTC short-term first resistance: 607–612, second resistance: 620
BTC short-term first support: 583, strong support: 580

ETH short-term first resistance: 1590–1630, second resistance: 1680
ETH short-term first support: 1550, strong support: 1510

Trading suggestions
When BTC rebounds to 607–612 and stalls, look to sell short. Target 581. If it breaks down, watch 570, 550, 545.

When ETH rebounds to 1590–1630 and faces pressure, set up short positions. Target 1510. If it breaks down, look toward 1480, 1350.

Manage position size properly, don’t go against the trend—trade in line with the trend.
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