Wednesday Morning Thoughts

In the world of crypto contracts, every order feels like stepping onto an exciting battlefield! The rapidly changing market makes your heartbeat fluctuate with the price. Seize the opportunity, open a position with one click, and you could instantly earn several times the profit—financial freedom is no longer a dream. Last midnight, Bitcoin continued its intraday decline, dropping from the high of 103694 to the low of 102455 before stopping and rebounding. Ethereum's midnight market also maintained a downward trend synchronized with Bitcoin, slipping from around 3500 to a low of 3403.

Based on the market data, the four-hour chart shows a continuous downward move, breaking through the middle band of the Bollinger Bands. During this period, the bulls did not provide a significant rebound. The KDJ indicator's three lines formed a death cross on this level and continued downward, indicating the overall trend is under bearish control. On the one-hour chart, the Bollinger Bands are opening downward, and the price keeps hitting recent lows. Bearish momentum continues to expand, suggesting the next wave of decline is not over. Even if a rebound occurs, it will be short-lived and just a setup for a pullback. Therefore, in the early morning, we maintain a strategy of shorting after a rebound.

BTC: Short around 103500-103800, target 102000-101500
ETH: Short around 3460-3480, target 3300