11:30 Trading ideas and basis

Looking back at yesterday's thoughts on the current market, we can see that the overall idea and direction from yesterday were correct, but there were some discrepancies in the levels, which is quite normal. Now, returning to today's market, the current 1-4 hour period can be considered as a rebound phase; however, the rebound is in a weak state. As shown in the figure below, there is strong resistance at 3950-70. The ideal position for shorting is above 3900. Due to the weakness of the rebound, the subsequent price movement is hard to predict because the market is dynamic, and it might rally when it seems weak. However, with proper position control, a staggered strategy can be employed: for instance, taking an initial position at 3890, a second position near 3940, and setting a stop loss above 3970.
You can take a look at the trend from the four-hour to the daily chart. The daily chart looks bearish overall, while the four-hour chart shows a rebound (but the rebound is weak). Therefore, whether there will be a consolidation during the day followed by a further decline or a bullish pattern afterwards needs time to confirm. At least currently, I am primarily bearish, with a secondary bullish outlook. For long positions, you can refer to around 4640, and for stop-loss, you need to watch for a pin bar or the lowest point after a pattern emerges, so patience is required.
Overall, the market is also bearish on Bitcoin, similar to the viewpoint on Ethereum, but the point patterns and trends are different; the direction is the same. Therefore, the strategy can look at opening a short position in the range of 107600-108200, with a strong resistance at 109500 to add a second position with a stop loss at 11W, and the first take profit target around 10W4300, while the second take profit target remains the same as yesterday's viewpoint, around 100000-101000. The trading ideas are all laid out; what remains is the issue of execution. For reference only.