This market, to be honest, really gives me a headache. If you want to go long, you’re afraid of getting caught hanging on a tree. If you want to short—this current position to short from isn’t really that suitable. Right now, it’s not just that I don’t dare to go long, and I don’t dare to short either. The truth is that this market isn’t too easy to trade. For the blue line I drew: for Bitcoin, if it breaks above 78,600 and also manages to hold steady at this level, then there’s a chance it could continue rising. If it can’t break through, then during the pullback, look at whether the price at 77,170 breaks down—if it can’t break, then, hmm, it will still range-trade sideways in this zone.

As for Ethereum, it’s different. Ethereum has already broken above the top of the sideways range. Now it depends on whether it can hold above the white line and whether it can break through around 2,360 and whether it can stand firm there. If it stands firm, then Ethereum will definitely continue rising. On the downside, similarly, keep an eye on 2,280. This is a spot where price can “stab in” (pierce): you can also place a long around 2,280, or even around 2,260.

I’ve been observing: if you’re looking to do shorts right now, then my advice is—if it’s like Bitcoin—then you must place the short orders at either 79,400 or 81,200. To be honest, Bitcoin can easily move 1,000 points and go up effortlessly. So your position size absolutely must not be too heavy.

For Ethereum: if you want to do a short, then at the very least you should place the short orders at 2,400 or higher resistance levels. If you’re the aggressive type, then you can place a small short around 2,380. $BTC $ETH