2.16BTC/ETH Market Outlook:

On New Year's Eve, first of all, I wish everyone a Happy New Year. May the new year bring prosperity and good health! This week, we've been shorting all the way, and it's been a meat-eating ride! On Saturday and the weekend, we continuously relied on strong resistance at 70,000 and 70,500 for short positions, with ETH at 2100 for shorts; on Thursday, shorted Bitcoin at 68,000 and ETH at 2000; on Wednesday, shorted Bitcoin at 69,000 and ETH at 2030; on Tuesday, shorted Bitcoin at 7000 and ETH at 2100; on Monday, chased short positions at Bitcoin 69500 and ETH 2040. Today marks the start of a new week. Over in the US, it’s Presidents' Day, and the stock market is closed today, so intraday volatility probably won't be too high. Everyone can still take some time to spend with family and enjoy the holiday!

Bitcoin weekly K4 candles show four consecutive down days, with all three Bollinger Bands opening downward. The MACD bearish momentum continues to expand. The daily rebound was met with resistance at the BBI and closed lower, with the upper and middle bands opening downward. The lower band is showing signs of opening upward, but there’s still plenty of room below. The KDJ lines are about to converge and form a death cross downward, RSI is turning downward, and MACD bullish momentum is expanding. Overall, the main trend remains bearish, but this is not a blind or reckless short. Avoid chasing shorts at low levels blindly.

In the short-term 4-hour chart, the upper band is opening downward, and the rebound is currently being resisted by the middle band. However, the lows of the last two candles haven't been broken yet, indicating a sideways market. The KDJ and RSI are both turning downward, and MACD bearish momentum is beginning to expand. On the hourly chart, the decline stopped and rebounded overnight, but it failed to break through the middle band resistance. Indicators are trending bearish, but support levels are quite clear. For intraday trading, it's better to be cautious and mainly focus on shorting from higher levels.

That’s all I’ll say for now. I’ve provided the direction and analysis, but I won’t share specific resistance or short entry points so plainly. We’ve been sharing for more than a day or two; those who want to eat meat already have, and those hesitating can continue to hesitate. Happy New Year to everyone! #Gate广场发帖领五万美金红包 $BTC