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Friday, the Second Day of the Second Month - Dragon Raises Its Head, Rally Then Short
Dragon horns mirror the stars, earthly signs of spring emerge, on the second day of the second month, the dragon raises its head, we draft a spring breeze as prelude, awaiting all things to take pen in hand. Returning to market analysis, last night Bitcoin was still around 68750, but this morning it has risen back above 70000. Ups and downs are the norm, don't be alarmed, continue shorting the rally.
This rally has confirmed 76000 as a phase-wise top. Under the influence of the Fed not cutting rates, the bears dumped with volume, temporarily halting and entering a consolidation range. The upcoming market will be extremely painful to endure. Outflows of capital have reduced market liquidity, so we must proceed step by step.
Bitcoin - Short the early session high of 70700-70400 range, target 68500
Ethereum - Short synchronously at the 2150-2175 range, target 2050
No need to elaborate on what day this is, handle Friday's node cautiously. Whether you recover and break even depends on your choice. Wishing everyone smooth sailing and profitable trading! #Gate13周年全球庆典