Continue to look bearish on Wednesday, maintaining the high-altitude trading approach. The market has not yet shown a clear reversal signal. Although there was a pullback last night that found support around 66,000, overall it remains in a range-bound consolidation pattern, and there has been no effective strong breakout in recent days.
From a technical perspective, a bottom has not yet been confirmed. The recent oscillation after a sharp decline is just a normal correction phase, and there is a high probability of a second bottom in the future. Regarding the time window, small-scale rebound opportunities are expected to occur around late February to March, before the Federal Reserve interest rate decision. Until then, the market is unlikely to experience a trend reversal, and following the trend to short remains the core strategy.
The direction remains unchanged, the trend stays the same, simplify operations, and stick to high-altitude shorts. Trading Suggestions Short positions around 67,000-67,500 for Bitcoin, targeting 65,000-65,500 Short positions around 1980-2010 for Ethereum, targeting 1850-1880
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Morning Analysis
Continue to look bearish on Wednesday, maintaining the high-altitude trading approach.
The market has not yet shown a clear reversal signal. Although there was a pullback last night that found support around 66,000, overall it remains in a range-bound consolidation pattern, and there has been no effective strong breakout in recent days.
From a technical perspective, a bottom has not yet been confirmed. The recent oscillation after a sharp decline is just a normal correction phase, and there is a high probability of a second bottom in the future.
Regarding the time window, small-scale rebound opportunities are expected to occur around late February to March, before the Federal Reserve interest rate decision. Until then, the market is unlikely to experience a trend reversal, and following the trend to short remains the core strategy.
The direction remains unchanged, the trend stays the same, simplify operations, and stick to high-altitude shorts.
Trading Suggestions
Short positions around 67,000-67,500 for Bitcoin, targeting 65,000-65,500
Short positions around 1980-2010 for Ethereum, targeting 1850-1880