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

This morning, early positions were closed after reaching the stop-loss point, with a mid-way addition capturing 1300 points of space, securing the 26,000 oil level. Those who followed have already taken profits!

The market weakened again this morning, with Bitcoin’s previous low of 72,889 broken. The 70,000 support level is now at great risk. The short strategy on Monday has already yielded profits, and with proper market timing, significant gains can still be achieved.

The weak market pattern continues to deepen, with a clear lack of rebound strength. On the four-hour chart, the price repeatedly faces resistance at the middle Bollinger Band 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 again shows a dead cross, while 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 bottoming out. Blindly trying to catch the bottom is not advisable.

Trading Suggestions:
Bitcoin rebounds to the 76,500-77,000 range, shorting with targets at 74,000-75,000. If it breaks below, look for 72,000.

Ethereum rebounds to the 2,280-2,300 range, shorting with targets at 2,100-2,150. If it breaks below, look for 2,000.