1.30BTC/ETH Market Outlook:

Last night saw a sharp decline, with gold and silver plunging from high levels, and the crypto market also experienced a flood of sell-offs. Since last week, everyone has been repeatedly testing the 90,000 and 3,000 levels, continuously shorting. Yesterday, Thursday afternoon, I explicitly told everyone not to mistake rebounds for reversals, not to be fooled by false signals, and to short towards the 85,000 and 2,600 levels. Those who followed have already made substantial profits!

Bitcoin daily chart from Monday to Wednesday closed with consecutive bullish candles, but it’s important to note that Monday closed with a large bullish candle, Tuesday with a small bullish candle, and Wednesday with a doji, indicating a lack of bullish momentum. The price action on Thursday, Wednesday, and Thursday was very similar! I mentioned this briefly yesterday afternoon, so yesterday Thursday I said there would be a decline, and today there is still more to come! High-level sideways movement with weak rebounds, insufficient bullish momentum—this is not a trap for more longs, but what is it? The lower Bollinger Band space is not enough to open downward, so it needs time to create room for a decline! Currently, the lower band is sharply opening downward, MACD remains in a bearish expansion, RSI and KDJ are also trending downward, so today’s operation remains short! But note that after indicators become severely oversold, a correction is needed. Shorting is high-level shorting, not chasing after short positions!

On the 4-hour chart, a long lower shadow large bearish candle has formed. The current price has not yet broken above the upper and lower bands. Resistance above is around 83,300, followed by 84,600, with strong resistance near 86,000. Short positions can be arranged around these levels, with targets at 82,000, 81,000, and 80,000 below.

For Ethereum, resistance above is around 2,780, 2,830, and 2,900. Short positions can be set up around these levels, with targets at 2,700, 2,600, and 2,500.