Last week's sharp drop was quite a thrill for short positions, Bitcoin's spot price also dipped to 60,000 allowing for bottom hunting. On Monday, it reached 64,000 with a high short strategy at 1,700. On Tuesday, I reiterated this high short pressure, emphasizing that the market would be in a state of consolidation recovery this week, and also mentioned that profits should be taken gradually, realizing gains and securing them timely.
Bitcoin is currently priced around 73,600, still testing the resistance at 64,000. On the hourly chart, the upper band is opening downwards, and the market is rebounding but is under pressure from the upper band. Both KDJ and RSI are turning down, and the bullish momentum of MACD continues to decrease, indicating insufficient volume and a need for a pullback after the price rises. On the 4-hour chart, however, the upper band of the Bollinger Bands is opening upwards, with prices still under pressure from the upper band. KDJ and RSI show signs of turning down, and the bullish volume in MAC appears somewhat insufficient.
The midnight strategy remains primarily high shorts, as I already have a spot short at 60,000, so it’s advisable to short the contracts at highs. The upper resistance mainly focuses on 64,000 and 64,500 first, then 66,000 and 66,700. For entering high shorts, one should still look around these levels to set up. The lower support focuses on 63,000, 62,000, and 61,000.
For Ethereum, the upper resistance looks at 1,700 and 1,720, which is the first resistance level, followed by 1,770 and 1,800 as the second resistance. For high shorts, participate around these levels, while the lower support focuses on 1,660, 1,620, and 1,580.
It's not that the market isn't suitable or that the market conditions are weak; it's about standing in the wrong position and going in the wrong direction. Change your mindset, and you might find gold bars everywhere. The car in the muddy road will never outrun the one on the highway! In investing, avoid the idea of getting rich overnight; what we need is to survive in the market for the long term. Don't expect to buy bottoms and sell tops every time, refrain from greed and panic, and aim to secure achievable profits; treat each market fluctuation with a calm mind, avoid greed and panic, not seeking to become a master at buying the bottom and selling the top, but rather to follow the trend, gain steadily, and secure the profits!
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