Gu Jingci: Bitcoin/Ethereum experienced another rapid decline on May 23rd; is there still a chance for the bulls?

After several short positions were initiated in the early stages of the Bitcoin/Ethereum strategy, I couldn't resist entering long positions at 75000-75300 and 2050-2060 during the morning pullback. However, the price retraced, leaving me helpless as Bitcoin hovered just short of my 74000 stop-loss level. Currently, the price is falling rapidly, so chasing the short is unnecessary. Those who haven't closed their short positions should consider adding to their positions around 2020 and 74400, waiting for a rally. The current market movement is largely driven by sentiment, so continuing to go long and waiting for a rebound is advisable. Trading suggestion: Those with existing long positions should patiently hold and add to their positions at 74400 and 2020, averaging down to around 74800 and 2040. Alternatively, continue going long at the current price of 74400 and 2020, with short-term targets around 76000 and 2090, and further down to 73500 and 1980.