Recently, the price of Bitcoin once fell to around 59,000, and it is understandable that it has rebounded near previous lows, but Jiang Feng believes that this is at best just a continuation of the downward trend, and the rebound is merely an opportunity for us bears to enter!

Since the end of October last year, Jiang Feng has had a keen insight through the rules of the halving cycle, deducing that Bitcoin's peak for this cycle will be 126,200, which has now been validated. The bottom is expected to appear between June and November of this year. Interested friends can check Jiang Feng's historical articles. Given the current macroeconomic unfavorable news, the probability of the Federal Reserve raising interest rates is greatly increasing, and with a significant outflow of ETFs, there are no signs supporting any bottom formation. The real bottom will likely appear between September and November; that will be the best time to accumulate! Right now, shorting on the rebound is the wise choice!

Bitcoin:

Pay attention to resistance near the current price of 61,666 to 62,300, with targets watching for support below at 60,600, 59,800, 58,000, and 53,000.

Ethereum:
Pay attention to resistance above at 1,645, 1,666, and 1,690, with targets watching for support below at 1,600, 1,550, 1,510, and 1,440.

Please note to participate with a light position; if the opportunity hasn't arrived, keep your hands off and don't blindly try to catch the bottom!

Do you currently believe the rebound will continue to fall? Or do you think it has already hit the bottom?

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