8.11 BTC/ETH Market Outlook:
The recent market has truly been grinding, but yesterday at least brought some movement. Whether you’re bullish or bearish, you have to admit that the resistance above Bitcoin—between 65,500 and 67,000—is indeed strong and forceful. It has repeatedly tested many times, yet it still hasn’t managed to break and hold above that level. Zhong Liang still holds the same view: you don’t have to be bearish or short; you can also be bullish and go long, but under no circumstances should you chase longs aggressively before the resistance has actually been broken. Otherwise, it’s easy to get trapped.
Zhong Liang’s stance has always been consistently to take shorts from higher levels. So if you were short near 65,500 (or near 1,930), you already ate well yesterday. Even if you shorted around 64,000 and 1,900, you were still able to get out (break even/release risk).
After waiting through the high-level short setup all night, the market hasn’t offered an opportunity to enter at that high level yet. On the hourly chart, the rebound is happening, but it hasn’t even reached the mid-band resistance. On the 4-hour chart, although the candle closed bullish with a long lower wick, the impact isn’t significant—indicators are still bearish overall. On the daily (K) chart, the mid-band and upper band are both opening downward, moving lower.
The recent market has been chopping around: after each upward push, it reaches the resistance zone, then turns into a sideways range for several days, and only suddenly pulls back. This makes chasing highs very uncomfortable—if you get trapped, you suffer. Likewise, if the market pulls back, there’s no need to chase shorts blindly either. If it goes sideways for a few days and then rebounds back up, being short at that time can trap you again, which is also uncomfortable. So if you want to short, prioritize shorts from higher levels, manage position sizing, and participate in batches.
For Bitcoin: if price is above 64,800 and 65,800, as well as near the prior high around 66,800, look to short from higher levels in batches around there. For downside support, watch 63,500, 62,500, and 60,500.
For Ethereum: resistance to watch above is around 1,905, 1,940, and 1,980. Short from higher levels in batches around those zones. For downside support, watch 1,860, 1,820, and 1,780. #贝莱德加拿大推出比特币关联ETF
The recent market has truly been grinding, but yesterday at least brought some movement. Whether you’re bullish or bearish, you have to admit that the resistance above Bitcoin—between 65,500 and 67,000—is indeed strong and forceful. It has repeatedly tested many times, yet it still hasn’t managed to break and hold above that level. Zhong Liang still holds the same view: you don’t have to be bearish or short; you can also be bullish and go long, but under no circumstances should you chase longs aggressively before the resistance has actually been broken. Otherwise, it’s easy to get trapped.
Zhong Liang’s stance has always been consistently to take shorts from higher levels. So if you were short near 65,500 (or near 1,930), you already ate well yesterday. Even if you shorted around 64,000 and 1,900, you were still able to get out (break even/release risk).
After waiting through the high-level short setup all night, the market hasn’t offered an opportunity to enter at that high level yet. On the hourly chart, the rebound is happening, but it hasn’t even reached the mid-band resistance. On the 4-hour chart, although the candle closed bullish with a long lower wick, the impact isn’t significant—indicators are still bearish overall. On the daily (K) chart, the mid-band and upper band are both opening downward, moving lower.
The recent market has been chopping around: after each upward push, it reaches the resistance zone, then turns into a sideways range for several days, and only suddenly pulls back. This makes chasing highs very uncomfortable—if you get trapped, you suffer. Likewise, if the market pulls back, there’s no need to chase shorts blindly either. If it goes sideways for a few days and then rebounds back up, being short at that time can trap you again, which is also uncomfortable. So if you want to short, prioritize shorts from higher levels, manage position sizing, and participate in batches.
For Bitcoin: if price is above 64,800 and 65,800, as well as near the prior high around 66,800, look to short from higher levels in batches around there. For downside support, watch 63,500, 62,500, and 60,500.
For Ethereum: resistance to watch above is around 1,905, 1,940, and 1,980. Short from higher levels in batches around those zones. For downside support, watch 1,860, 1,820, and 1,780. #贝莱德加拿大推出比特币关联ETF