2-4 Morning Market Analysis: Bears Dominate, Follow the Trend for Short Positions

This morning, early in the session, I closed my short positions at the stop-loss level, having added a position midway to gain 1300 points of space and secure 26,000 oil. Friends who followed have already taken profits!

The market weakened again this morning, with Bitcoin breaking below the previous low of 72,889. The 70,000 support level is now at great risk. On Monday, the short position strategy was already profitable, and if the current market is well managed, it could yield significant gains.

The weak market pattern continues to deepen, with rebound momentum clearly lacking. On the four-hour chart, the price repeatedly faces resistance at the middle band of the Bollinger Bands and pulls back. The rebound is merely a technical correction, with the three Bollinger Bands converging downward, indicating increasing bearish pressure. On the one-hour chart, the price has fallen below the middle Bollinger Band, which continues to move downward, forming resistance. After the KDJ indicator recovers, it forms another dead cross. The MACD lines diverge below the zero line, indicating that bearish momentum is strengthening.

Overall, the market remains in a downward channel with no clear signs of a bottom, so blindly bottom-fishing is not advisable.

Trading Suggestions:
Bitcoin rebounds to the 76,500-77,000 range, shorting with targets at 74,000-75,000; if broken, look for further decline to 72,000.

Ethereum rebounds to the 2,280-2,300 range, shorting with targets at 2,100-2,150; if broken, continue to watch for 2,000.