3.9BTC/ETH Market Analysis:

Bitcoin had 8 consecutive daily bullish candles before this, rising sharply from 66000 to around 76000 in a single day, gaining nearly 1000 points in 8 days. Those who profited from this bull run indeed made good gains. However, Zhong Liang has been shorting all the way - the short position near 72600 was held bearish all the way down to 60000 and 50000. After reducing the short position, holding continued, which resulted in being stuck for several days with a maximum drawdown of over 2000 points. But market movements aren't simply bullish when prices rise - one shouldn't chase rallies. In the area above 70000, Zhong Liang consistently emphasized the viewpoint: don't chase rallies, there's no good risk-reward ratio. When breaking through the 74000 resistance, I emphasized again: you can choose not to short, but definitely don't chase rallies - it's too easy to catch the ceiling. And sure enough, the price faced resistance at highs, various profit-taking and selling pressure emerged at higher levels, and prices came to an abrupt halt. After two large bearish candles, the key focus is now on the daily middle-band support at 70000. If this breaks, downside acceleration will be inevitable!

Daily Bollinger Band upper rail is flattening, MACD bullish momentum continues shrinking, KDJ and RSI have moved down from overbought levels and are opening wider downward. The powerful 8-candle bull strength is now under pressure declining, intraday trading focus is on shorting at highs, or chasing shorts on support breakdown. $BTC #Gate13周年全球庆典