On Monday, at the start of the week, the whole market was chaotically “swept and washed,” and we continue to stay firmly bearish.

As mentioned in last night’s livestream, we’re still looking for consolidation in the mid-term. We expect that today’s opening will first rise and then fall, and sure enough, the market’s pace has stayed exactly the way we expected. After the early session quickly touched 64,400, it faced pressure and fell back. Sudden pump-ups and sudden dump-downs are never good—this is clearly a bull-trap meant to lure longs.

Over the weekend, repeated attempts to push higher and spike up didn’t follow through. The bulls are already showing signs of exhaustion; both the daily and weekly charts are printing bearish candles. We’re not looking for an overly large one-way move. As long as the support at 61,200 can’t be broken, the price will keep ranging and fighting inside the box. Same old saying: if it doesn’t break, you can’t build; once it breaks, then you build.

For the big cake, short in the 64,000–63,500 area, with a target of 62,200. If it breaks, reduce positions and look down to 61,800. For longs, wait until after the US session—if you don’t see a wick/pin insertion, don’t board. With ETH in sync with the same rhythm, we continue to short. #LAB两日腰斩53%