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The market's turbulence washes away impatience and cowardice, leaving behind determination and perspective. Don't let short-term fluctuations disrupt your rhythm; stay focused, deepen your understanding, and stay true to your original intention. Only by enduring the lows when no one is paying attention can you embrace the magnificent waves of the market. All persistence will eventually turn into substantial gains when the trend arrives.
On Thursday afternoon, Bitcoin rebounded to a high of 66,898 but faced resistance. In the evening, the bears continued to push the price down, touching 65,676 before bouncing back. Currently, the highest rebound is around 67,400, but it faces resistance again. Ethereum also rebounded to 2,055 in the afternoon but was similarly pressured. In the evening, it continued its intraday decline, hitting a low of 2,015 before bouncing back. The latest high of 2,076 faced resistance and fell again.
The short-selling signals given at midday for the rebound were validated as expected. Around 66,700 for Bitcoin, a short position was suggested; around 65,700, an exit was recommended to lock in a 1,000 profit. Ethereum's weaker decline saw a short at 2,051 and an exit at 2,017, netting 34 points. In the early hours of Friday, during the live session, further rebound and short signals were provided: around 67,000 for Bitcoin and around 2,070 for Ethereum. Currently, all positions are in profit.
The current market pattern shows clear fatigue. In terms of trading strategy, following the trend remains the wisest choice. From the overall trend perspective, Bitcoin's short-term movement has fundamentally changed. The previous oscillating upward trend has been broken by consecutive bearish candles. The candlestick bodies are strong and powerful, completely dismantling the previous upward trend. In such a weak market, simply following the trend allows for easy profits.
A deeper analysis of the 4-hour timeframe shows that the bearish momentum remains strong and persistent. The continuous downtrend is accompanied by weak rebound corrections, which are insufficient to signal a reversal. Rebounds are weak, and when prices reach the 67,500-67,300 resistance zone, they tend to fall back, almost without signaling a trend reversal. Therefore, in this structure, every rebound is an ideal opportunity to short, continuing the bearish strategy.
On Friday early morning, Bitcoin at 67,300-67,000 can be shorted directly, with a short-term target of 66,000. For a swing trade, the target can be 65,500-64,800.
Ethereum at 2,075-2,070 can also be shorted directly, with a short-term target of 2,011. For a swing trade, the target can be 1,950-1,936.