According to the daily chart analysis, Bitcoin has temporarily ended its unilateral upward trend and entered a state of wide fluctuations.
In the past 4 hours, we have rarely seen 5 consecutive declines, but the rebound in the morning has recovered more than half of the decline, showing the fierce game between long and short sides.
The shorts have encountered resistance and rebounded twice near $63,800. If this position is broken, it may trigger further upward momentum.
At present, the shorts are in a slight advantage. It is recommended to adopt a short strategy first and make adjustments according to market conditions.
The specific operation suggestions are as follows: Establish a short position near $65,000 in Bitcoin, set the target at $63,800, and set the stop loss at around $65,500.
For Ethereum, a short position can be established near $3,440, with a target set at $3,380 and a stop loss set at around $3,480.
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