Gold continues to reach new highs, with prices constantly setting historical records. However, last night in the crypto world was a nightmare for bulls. In the past 24 hours, long positions worth over $1 billion were liquidated, with more than 183,000 people facing liquidation. Going long feels like a struggle, it's too difficult… Last week, when there was a rebound around 97,900, everyone was still full of confidence, believing that the bull market would return quickly. Many thought that 100,000 for Bitcoin was conservative, with some even shouting for 150,000. In the crypto world, a day feels like ten years in reality; fortunes change, and no one should mock anyone else!
Bitcoin's daily chart has seen six consecutive bearish candles, and the decline is accompanied by increased volume. The MACD shows increasing bearish momentum, while the KDJ and RSI are turning downwards. On the 4-hour chart, the price has returned above the lower band, with signs of decreasing volume in the MACD. The KDJ has crossed upwards, and the RSI, after being oversold at a low level, is turning upwards. There is a demand for a rebound in the indicators, so despite the bearish outlook, it is not advisable to be too aggressive in shorting directly, as it could lead to being trapped! The hourly chart is currently showing a rebound, with a double bottom breaking the lower band and then recovering. The MACD is showing increasing bullish momentum, and the KDJ and RSI are oscillating upwards. The focus for the day is on high shorts, with the rebound providing opportunities for shorts.
The upper resistance to watch is first at the round number of 90,000, which is also near the mid-band resistance on the hourly chart. Next is the 91,700 level, followed by the mid-band resistance around 92,500 on the 4-hour chart. High shorts should be positioned around these levels, while the lower targets are 89,000, 88,000, and 86,700.
Ethereum directly broke below the lower band support at midnight, currently priced around 2,981. The focus for intraday operations is on high shorts, with upper resistance at 3,020, 3,070, and 3,120. Consider participating in high shorts around these levels, with lower targets at 2,970, 2,920, and 2,870.
A person's life is like a parabola; no matter how high or far you fly, you will eventually have to land. If a person sets high goals, they must put in their hard work and sweat. Even if they cannot achieve their goals despite their best efforts, they will at least have gone further and accomplished more than others. A person's ultimate achievements will not exceed their beliefs. Everyone's beginning and end are the same; only the process is different. The quality of life should always be greater than the length of life. Find your lost self and live out your true self. Seize today and live in the moment!
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