mt logoMyToken
ETH Gas15 Gwei ($1.07)
EN

Liang Qiu: Take profit on Bitcoin/Ethereum short positions at 11.5; continue shorting on evening rallies.

Share
Shorting Bitcoin/Ethereum above 3340 during the daytime session and successfully taking profit near 3270 was mentioned previously. The market rallied rapidly in the evening, with the hourly and 4-hour charts showing an upward trend. The daily chart shows consecutive bearish candles, indicating a clear downward trend. Yesterday's long lower shadow suggests some buying support around 3057. The 4-hour chart shows a rebound, a correction after a significant short-term drop, but the overall pattern remains weak and volatile. Technically, the MACD histogram remains negative, with both DIF and DEA trending downwards, indicating that bears are in control and there are no bottoming signals in the short term. Evening trading recommendations: Short Bitcoin around 103000-103500, targeting around 101300; Short Ethereum around 3370-3400, targeting around 3280. [The above analysis and strategies are for reference only; please bear your own risks. The article's review and publication are not timely; please refer to real-time information.]