3.9BTC/ETH Market Analysis:

Bitcoin previously experienced 8 consecutive daily candles closing higher, with a sharp surge from 66,000 directly up to around 76,000 in a single day. In 8 days, the price increased nearly 10,000 points. Those who caught this rally with long positions definitely made good profits. However, Zhong Liang has been consistently shorting. His short near 72,600 was held all the way down to 60,000 and 50,000 levels. After reducing his short position, he continued holding, which resulted in being trapped for several days, with a maximum drawdown of over 2,000 points.

But the market is not simply bullish just because prices rose, so chasing the rally is not advisable. Above 70,000, Zhong Liang repeatedly emphasized: do not chase the rally—there's no cost-performance advantage. When breaking through the 74,000 resistance, he reiterated: you can avoid shorting, but definitely do not chase higher prices, as it's easy to buy at the top. As expected, the market faced resistance at higher levels, with profit-taking and liquidation selling at elevated positions. The price suddenly halted and dropped sharply. After two large bearish candles, the key focus is on the daily chart's midline support at 70,000. If this level breaks, downside acceleration is likely.

The daily Bollinger Band upper band is flattening. MACD bullish momentum continues to diminish with decreasing volume. KDJ and RSI, after reaching overbought levels, are turning downward with widening gaps. The strong bullish momentum from the 8 consecutive candles has come under pressure and is declining. For intraday trading, focus on short positions from higher levels or chase shorts if support breaks. $BTC #Gate13周年全球庆典