Gu Jingci: Bitcoin/Ethereum short positions still have room to decline; exercise caution when bottom fishing

Yesterday, Bitcoin/Ethereum repeatedly reminded to consider shorting on rallies. Early morning, it was again advised to continue entering short positions or add to existing shorts above 2150 and 69700. After multiple attempts to push higher, the market retraced and declined, with the lowest around 2086 and 68200. The daily chart shows a series of long upper shadows and a closing downward, indicating the trend is weakening. The 4-hour candlestick pattern shows that after a strong upward move, there have been two consecutive large-volume bearish candles, followed by a small-bodied candle with a long upper shadow, suggesting short-term upward momentum is waning. The market is entering a correction phase, with bulls and bears fiercely contesting in this area.

On the daily chart, a large-volume bearish candle with a long upper shadow confirms short-term resistance at the top and signals a correction trend. Technical indicators on the 4-hour chart show MACD's DIF and DEA lines still above zero, but DIF has begun to turn downward toward DEA, and the MACD histogram continues to shrink, indicating short-term bullish momentum is weakening and a death cross risk exists. The volume yesterday declined sharply alongside the large candles, further confirming the strength of the correction.

Short positions still have room to fall further. Watch the support levels around 66,500 and 20,300. Often, whether you start right or wrong isn’t as important as whether you can hold a good position. No one will give you unwavering confidence, and without it, you can’t hold your position; nor can you adjust in time when the trend changes.

We are here every day, not to prove how high our win rate is, but to tell you that our team is always here—monitoring the market around the clock, professional and reliable. Analysis and strategies are for reference only; please manage your own risks. The article is not updated in real-time; please refer to live data for specifics. #Gate广场四月发帖挑战 #假期持币指南 #加密市场行情震荡