Trader Gu Jingci: Successfully went long then short on Bitcoin and Ethereum on 11.16, with analysis of the early morning market movement

After a sharp drop and short squeeze in Bitcoin/Ethereum to 63,000 and 1,750 last night, long positions were taken at 1,720 and 62,500 this morning. Two attempts to push prices higher in the afternoon and evening failed, resulting in a reversal and further decline—overall price movement is clearly visible. The current trend remains weak, still in a retracement phase, with potential for further downside. Watch for short-term support at 63,000 and 1,730 levels. Early morning trading suggestion: Continue shorting Bitcoin around 65,000–65,500, targeting 63,500; continue shorting Ethereum around 1,815–1,830, targeting 1,760.