In one sentence, the recent market landscape has no difficulty at all. The band-short ideas hinted earlier are being verified one by one: first, the attempted spike up at the high 67,000 failed, and the market, as expected, eased down under pressure. Yesterday, there was also a successful break below the first target at 65,000. The next target is equally clear—directly aiming at the 64,000 target. The midnight action is still as disappointing as always, mainly featuring range-bound consolidation on smaller timeframes. This is both market repair and another opportunity to set up shorts again. After the morning rebound around 64,200, the price once again slipped back into the midnight range. Overall, the rebound momentum is clearly not doing much. The downtrend is already formed—so going forward there’s no need to overemphasize the plan: rebound equals short.
Candlesticks are the truest reflection of the market; all opportunities are revealed through candlestick movement. On the daily timeframe, the price successfully slid with consecutive bearish candles. Short-side candles keep regaining territory, and the prior market’s stretch potential has also been successfully recovered. It keeps pressing downward, and the bottom support that can be clearly seen in the near term is nothing more than the middle band—also around the 64,000 level. So for the pullback ahead, we should first watch the pullback breakthrough effect at this stage.
On the four-hour timeframe, the price has trended down in bearish candles from the upper band to the lower band. Short-side candles continuously press on the bottom support; after a small bounce, the price quickly sank again, further proving that any rebound is merely market repair within a downtrend, with no trend effect. Therefore, for positioning going forward, we can short around the morning rebound high area at 65,200.
BTC short in the 65,200–65,700 range Target 64,000 Breakthrough to look at 62,500
ETH short in the 1,885–1,905 range Target 1,850 1,800
#Gate事件合约首发狂欢 $BTC $ETH