Follow and watch for potential gains of 10 million. Hello everyone, I am analyst Gu Jingci. I share my perspectives here in hopes that everyone following along can achieve good profits!
After the rapid drop in Bitcoin/Ethereum following the recent non-farm payroll data, the market saw a rebound and correction over the weekend. Bitcoin as a whole hasn't had much rebound space from yesterday to today, mainly maintaining sideways consolidation. Ethereum, on the other hand, saw a relatively larger rebound, once again breaking through the 2500 mark. The previous rapid decline was accompanied by increased trading volume, while the current rebound clearly shows a declining volume, signaling the final sprint stage of the structure and another test of the top. Currently, weekly charts show strong resistance above, with repeated failed attempts to break through, resulting in sustained high-level consolidation. If there is another test downwards, the decline could be much larger, possibly even leading to a massive 10 thousand-point drop. Those with short positions can continue to hold patiently; those without can open shorts at current prices.
Trading recommendations: Short Bitcoin directly around 80,000, targeting around 77,000 to 78,000; Short Ethereum directly around 2,510, or add to shorts if your position allows, targeting around 2,380 to 2,430. If support breaks, continue to watch the 75,000 and 2,250 levels.
