The market continues its weak downward trend, with an early morning probe to the bottom around 64800 followed by a lack of rebound. It is currently still in a phase of correction. This weak rebound pattern indicates that after the consolidation ends, a new wave of decline is likely to follow.
Yesterday, a clear short-selling strategy was provided, which perfectly captured the current wave of gains. The current weak market trend is certain, and the main trading discipline must be maintained: primarily short positions. Stay patient and wait for a rebound to sell high is the best approach.
Trading Recommendations Open short positions around 66500-67000 for Bitcoin, targeting 64000-64500 Open short positions around 1970-2000 for Ethereum, targeting 1800-1830
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Morning Analysis
The market continues its weak downward trend, with an early morning probe to the bottom around 64800 followed by a lack of rebound. It is currently still in a phase of correction. This weak rebound pattern indicates that after the consolidation ends, a new wave of decline is likely to follow.
Yesterday, a clear short-selling strategy was provided, which perfectly captured the current wave of gains. The current weak market trend is certain, and the main trading discipline must be maintained: primarily short positions. Stay patient and wait for a rebound to sell high is the best approach.
Trading Recommendations
Open short positions around 66500-67000 for Bitcoin, targeting 64000-64500
Open short positions around 1970-2000 for Ethereum, targeting 1800-1830