Today the market surged to a high of 61,900 points before facing resistance and pulling back, with prices continuously closing lower on the high levels, oscillating downward. From the high point, the market gradually weakened and continued to retreat, showing an overall pattern of sharp rises followed by declines, with the center of gravity constantly shifting downward. It has now broken below 56,600. Yesterday afternoon, we recommended entering short positions directly at the current price and suggested shorting on rebounds, with a short position strategy around the 62,400 level. Traders following our live signals comfortably earned nearly 20,000 in profit. We exited at 60,000 during the midday, capturing over 1,600 points of space. The strategy is just a reference for everyone; experienced traders tend to follow directly. However, many people understand the market but cannot hold onto their positions. Understanding the market and executing the trades are two different things. Only those who can strictly implement strategies can steadily capture the profits the market offers. Trading ultimately depends on vision; execution is even more valuable.
From the current technical structure, after the market surged to 61,900 and faced resistance, the bullish buying momentum quickly diminished, and prices oscillated weaker. The market has already effectively broken below the key 60,000 level, further releasing bearish momentum. The candlestick chart shows continuous decline with lower highs and lower lows. Short-term rebounds lack volume support and are merely brief pauses during the decline, without forming a reversal or stabilization pattern. Once the key support is broken, the downward space opens further. The medium-term trend remains firmly bearish. Short-term operations should continue to follow the downward trend, with current prices shorting or waiting for rebounds to touch upper resistance for short entries being optimal. Follow the logic of turning support into resistance after a breakdown, strictly control positions in the short term, and avoid counter-trend bottom fishing.
In the afternoon, personal advice is to look for short opportunities around 60,200-60,700 for Bitcoin, with targets near 58,700. For Ethereum, short at 1,540-1,560, with targets near 1,480.