So tonight, if everyone wants to try to make a profit in this kind of turbulent situation, first of all, the current weekly trend is still clearly a bearish setup. It’s very likely that Bitcoin will break below the strong support at 58,000, so for longs around 58,000, you must also prevent it from spiking down to around 55,600—this is the next strong support area. So it’s best to enter a short if it rebounds in the 59,000 to 59,600 range.

As for Ethereum, this time its overall drop is relatively smaller. The main reason is that Ethereum’s institutional holdings are relatively smaller, so its overall decline in pace isn’t as aggressive. Therefore, its overall drop isn’t as large as Bitcoin’s. Recently, my thinking has been: short Bitcoin in the 59,000 to 60,000 range, and repeatedly long Ethereum at 1,555. That way, the overall profit is a bit more protected—but with this kind of market, we need to adjust our mindset. Don’t set your expectations for the upside of the overall rhythm of returns too high. Wait patiently until it has finished falling completely, and then we’ll go all out!