The downward momentum has been relentless, with the bearish trend delivering wave after wave. This rhythm is extremely clear. In the morning, the market broke down; once the 64,500 support from yesterday evening was breached, the market accelerated into a selloff. BTC dropped to around 63,400 at the lowest, while ETH followed in sync, reaching around the 1,875 area. In terms of recent outlook, the guidance has been very explicit as well: yesterday, during the high-touch phase, it was clearly a warning to everyone—don’t chase longs and end up getting hurt. The market structure at present is the best depiction of that. The short positions placed during yesterday’s daytime session, plus the shorts taken in the midnight period, were both decisive—during the morning dip to 63,500, you exited promptly, yielding solid gains.

At the moment, there are two paths for the market. Either it directly keeps heading south to probe the bottom at 62,000, or it first goes through a repair and rebound, then falls again. Both routes lead toward the bearish trend—what matters is the subsequent upside/downside potential and the timing of entry. On the daily timeframe, the middle-band support of the Bollinger Bands that had been emphasized earlier was successfully broken. A single strong bearish candle directly reinforced the bearish trend, and the market’s continuation strength is also very strong. The short-term downside potential is fairly clear too—just probe toward the lower band around 62,000. On the four-hour timeframe, bearish candles continue to pressure the chart, repeatedly attacking the lower-band support. The key point is the strong consecutive bearish pattern: it has been under pressure from above all the way down, with only one round of rebound and repair. Under this kind of structure, isn’t the downtrend already beyond doubt, friends? For the shorts going forward, we’ll first look for a probe toward 62,000.

BTC short in the 63,500-64,000 range Target: 62,000
ETH short in the 1,885-1,910 range Target: 1,830
#直通IPO第二期JerseyMikes $BTC ‌