Can the retracement continue when the market opens?
After the recent surge, there has not been much correction, and of course the high point has not been refreshed again. Judging from the current market, Ziming personally believes that there will be a drop after a long period of high-level horizontal movement. Ziming is still optimistic about the trend of retracement to test the bottom.
From the hourly level, the internal structure of the rebound of the one-hour central departure segment is complete, and the departure segment is currently in the divergence stage, so here we tend to see a 1h level correction. If the 1h correction is successful, the target is 62500 and 60500. Of course, there is a certain possibility that the short-term will rush up to 65000, extend upward, and then start a 1h level correction. This situation has also occurred before, if the short-term trend is very strong. But from the current point of view, it is more inclined to be a 1h level correction. After the 1h level correction, continue to rush above 65000 or evolve into a 4h level correction. We focus on the position of 60500. If this position is broken, then the actual 4h level correction will be directly taken.
In summary, Bitcoin is shorted around 640-643 tonight, with a target of 633-628
Ether is shorted around 273-275, with a target of 268-265
