Yueying: Bitcoin and Ethereum Market Analysis (December 1st) - Short Positions Achieve Great Success, Continuing the Downtrend

Recent articles have consistently expressed a bearish outlook, and today, Monday, the expected sharp drop materialized. Those who followed the advice should have profited well. Looking at the daily chart for Bitcoin, the price encountered resistance around the middle Bollinger Band. The previous candlestick closed as a small bearish candle with an upper shadow, followed by a sharp drop at the open. The Bollinger Bands are narrowing, and short-term moving averages are turning downwards. The MACD fast and slow lines are showing signs of turning upwards, with the volume bars decreasing. The KDJ indicator is turning downwards, and the VR indicator is consolidating around the 50 level. On the 4-hour chart, after consolidating at high levels over the weekend, the price broke below the lower Bollinger Band and the 60-day moving average with a bearish candlestick, currently trading below the lower Bollinger Band. The Bollinger Bands are widening, and short-term moving averages are turning downwards. The MACD fast and slow lines are trending downwards, breaking below the zero line with increasing volume. The KDJ indicator is crossing downwards; watch for support around the zero level. The VR indicator is consolidating around the 110 level. Overall, the market rebounded but was blocked by the middle band and then retested the downtrend, remaining within a downward channel. The short-term strategy remains to sell on rallies. If the support at 85200 breaks, it will likely test the 83000 area. Today is also the monthly close, so pay attention to market volatility. See short-term recommendations. Bitcoin short-term recommendation: Short at 87100 (Take profits as needed). My recent overall strategy has been linked to Bitcoin, primarily shorting, and the market movement has met expectations. You should have seen my previous strategies. The short position at 3048 mentioned above retraced to 3052, resulting in a move of over 200 dollars. The daily and 4-hour technical charts are consistent with Bitcoin's, with short-term support above 2780. If this level breaks, it will test the 2680 area. See short-term recommendations. My short-term recommendation: Short at 2868 (Click the image to see my profile for more coin analysis). —I am Zhou Yueying, a teacher specializing in technical analysis. If you have any questions about trading or trends, feel free to discuss and learn with me! Let's exchange ideas and profit together!