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Don't be swept up in get-rich-quick myths. Protecting your principal and maintaining discipline is more important than blindly chasing highs. Today's market continues to weaken, with Bitcoin dropping from last night's high of 71980 to this morning's low of 70456. Ethereum fell from last night's high of 2219 to 2150.
From the perspective of the current daily chart trend, the previous eight consecutive bullish candles have met with bearish reversals. In the short term, the price is running at a three-candle bearish pullback level, with upward momentum under pressure. The short-term uptrend structure has been broken by the pullback. Consecutive bearish candles suggest continuation, so in the short term we should focus on downside momentum. Additionally, the hourly chart has shown a deep breakdown yesterday, with prices oscillating at low levels. The Fed did not cut rates, so the market can't gain traction! Therefore, with the trend structure changing, I personally believe we should maintain a bearish outlook in the short term.
Early Trading Suggestions:
Bitcoin: Short around 71500-71800, target 70000-75000
Ethereum: Short around 2230, target 2160
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