Gu Jingci: Bitcoin/Ethereum Trading Strategy with Market Analysis (March 19th)

The short positions in Bitcoin/Ethereum entered last night around 72500 and 2250 during the decline, and the price dropped to around 70500 and 2150 respectively, resulting in a decent overall drop. Currently, the price is experiencing some rebounds, but a rebound does not necessarily indicate a reversal; the trend has already broken down, and the rebounds are simply opportunities to re-enter short positions. The 4-hour chart shows a large bearish candlestick with huge volume last night, confirming the end of the previous uptrend and the start of a correction. The subsequent two 4-hour candlesticks showed small bullish candlesticks with small bodies, indicating that the market is attempting to stabilize after the rapid decline, but the rebound strength is limited. Technically, the 4-hour MACD indicator shows the DIF line crossing below the DEA line, the MACD histogram is negative, and both DIF and DEA are running below the zero axis, indicating a short-term bearish trend with continued downward momentum. Furthermore, the current rebound volume is decreasing, indicating a lack of strong buying support and that the current rebound may only be a technical bounce within a downtrend. Trading recommendations: Continue shorting Bitcoin around 71,500 to 72,000, with a target of 69,000 to 70,000; Continue shorting Ethereum around 2,220 to 2,240, with a target of 2,120 to 2,160.