Thursday Morning Analysis

During the late-night period, after high-level consolidation and accumulation, bullish strength re-emerged, driving the market to experience a significant upward trend. By early morning, the price of Bitcoin successfully reached a new high, touching the level of 76420 before taking a slight break. At the same time, Ethereum followed suit, with its price climbing to the high level of 2746. The strategies laid out in the evening have now all realized profits.

In the current market environment, after a period of weakened upward momentum, the price naturally enters a phase of adjustment and correction. This correction process typically unfolds through two forms: the first is time correction, where the passage of time is used to exchange for price space adjustment, which is what the market often refers to as a sideways market; the second is through a rebound to accumulate energy, preparing for the subsequent downward trend. Currently, the price is in the phase of time correction, completing necessary adjustments through a sideways market, thereby laying the foundation for the following upward trend.

From a technical analysis perspective, the high points of the small cycle can still be viewed as pressure points for short positions. Additionally, based on market trend expectations, during the process of a second bottoming, the price is unlikely to break below previous lows again. Therefore, during the morning trading session, investors can seize the opportunity for short positions, waiting for a slight price adjustment before choosing to follow up with long positions.

Thursday Morning Recommendation

Bitcoin 76400-76000 can be shorted, target focus on 74500-74000.