Rebound is not a reversal; shorting is tough!

Yesterday's rally was indeed quite aggressive, I must admit. It was unexpected, mainly because the recent market has been really weak, with continuous downward movement. The bulls haven't shown any decent rebounds, so people tend to naturally think that the rebound won't be too big, underestimating the power of the bull army's revenge!

First of all, if you shorted around 65,000 or 66,000 yesterday and have already cut your losses, then unfortunately, now around 68,000 is definitely not the place to chase the rally. If you bought from 63,000 or 64,000 all the way up yesterday, then that was really impressive—caught a big rebound of several thousand points. Similarly, catching a big short of several thousand points earlier is common, so there's no need to envy. The market is always fluctuating; the tide turns. There is no market that only goes down or only goes up.

Today, if you ask for Zhongliang's strategy, it’s still short. Short around the current price of 68,000, and add to your short around 70,000. For Ethereum, without a doubt, short directly around 2100, or if you're already near 2050, go ahead and short now.

Sharing some indicators, today I’ll be a bit lazy and not say much. Most people don’t have the patience to read. They only want to know whether to go long or short, where the long positions are, and where the shorts are. Although most of the time, Zhongliang doesn’t publicly share specific levels for free, but when there’s a lot of controversy, Zhongliang will definitely come out bluntly, directly, and clearly share his views. If you agree, manage your positions well and follow along. If you don’t, just treat it as a contrarian indicator.

Bitcoin daily Bollinger Bands are severely narrowing. Yesterday’s big bullish candle ended the previous three consecutive bearish candles. Today, it opened directly above the middle band and is currently repairing around the middle band. On the 4-hour and hourly charts, there’s a need for a pullback. Whether the market will simply drop sharply today or oscillate at high levels remains uncertain. The temptation for the bull army is high—this is hard to predict.