We spend our lives fighting against some kind of gravity: the denial of childhood, the yardstick of society, the harsh self-criticism. But the heaviest shackles are often those correct choices gilded with gold. Look at the pines and cypresses on the edge of the cliff! True freedom is not about escaping gravity, but learning to grow new rings in a tilted world.
Without further ado, let's get straight to the point. It's a new week, the holiday has just ended, and Bitcoin's market is experiencing a new trend. Based on the market review and our analysis from the previous article, it basically aligns with the bearish structure we emphasized. The detailed tariff policies that were implemented last week confirmed a sense of panic in the market. Today, we see a significant drop across global financial markets, with no exceptions. For Bitcoin, it held strong for a few days during the holiday, but this current drop is, quite frankly, very normal. We are now very close to the previous adjustment low around 76,600, and with the current panic selling in the market, it is undoubtedly heading for new lows. Everyone should stop wondering how much it has dropped and how much further it will fall; the straightforward truth is that if we can accept the previous gains, we must also accept the current decline. Just like the U.S. stock market, which saw such significant gains in previous years, how can the current drop be considered abnormal? Bitcoin is no different; we can see Bitcoin above 100,000, and we must be mentally prepared for even lower prices.
In terms of operations, it has been a long time since we have primarily focused on bearish positions. Friends who have been following us closely can see that for most of this year, we have been bearish and shorting. Of course, there have been both gains and losses, but overall, we can see that the profits have been greater. This is the current main rhythm; we are just going with the trend. Before the holiday, we suggested shorting around 83,800, and we have provided multiple entry points in the subsequent market movements. Our shorting targets have all been met, even exceeding expectations. Congratulations to everyone who followed along and perfectly captured profits. Let's continue to work hard together.
Dreams may be distant, but with determination, we can reach far!
On the market, the daily level currently shows a large bearish candlestick, with the market low breaking below 77,000. From a structural perspective, the current bearish structure could have been anticipated. For several consecutive days, the candlesticks have shown long upper shadows, indicating significant selling pressure from above, and there is a clear intention to offload in a small upward trend. Coupled with the impact of the external financial environment, it ultimately could not hold up and fell under pressure. In terms of technical indicators, we mentioned multiple times last week that the daily chart has expectations of a bearish cycle. The MACD has currently entered the early stage of a bearish cycle, confirming our market prediction. The current market sentiment is heavily bearish, with no signs of a bottom yet, and the support below is not clearly defined.
On the four-hour level, we are also seeing a volume-driven decline, and the indicators cannot provide clear support or resistance levels. For now, we are waiting for the market to find a bottom, and after the indicators recover, we will continue to position ourselves for shorting. Additionally, we need to pay attention to the opening of the U.S. stock market tonight. If the U.S. stock market continues to decline weakly, it is unrealistic to expect the crypto market to be strong on its own. Overall, based on the current market environment, the downward momentum is still not enough, and there is still plenty of room below.
In terms of operations, we do not plan to consider anything else. I wonder if everyone still has some of the short positions they laid out earlier. We do not plan to position ourselves for a rebound in the oversold market, as we cannot determine where the bottom will be. We will primarily focus on shorting during rebounds. If there is a rebound around 78,500, we will position ourselves, with 79,500 for additional entries and 80,300 as a stop-loss, continuing to target new lows.
Ethereum has unexpectedly dropped to around 1,500. I don't know what to say about this. As the second-largest cryptocurrency, Ethereum is almost reduced to the level of ordinary altcoins. The operation is similarly focused on shorting during rebounds, participating around 1,650.
【The above analysis and strategies are for reference only. Please bear the risks yourself. The article is subject to review and publication, and market conditions change in real-time. The information may be outdated, and strategies may not be timely. Specific operations should follow real-time strategies. Feel free to contact us for discussions on market conditions.】
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