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Wednesday early morning Bitcoin and Ethereum latest ideas and operations
Made a profit and felt like the chosen one, walking on air. Lost a trade and felt worthless, annoyed by everyone. This state of being driven by gains and losses is the biggest internal conflict in trading. Looking back at yesterday’s market, Bitcoin retreated from above 69,700, with a low around 67,700; Ethereum declined from above 2,150, with a low near 2,057. The bearish force was concentrated during the early hours, and the overall market was under significant pressure.
Based on the current chart, the four-hour moving averages are in a bearish alignment + MACD dead cross confirmed + volume increasing on the decline → a bearish trend is established. A rebound to the key resistance level presents a high shorting opportunity. The one-hour chart shows weak oscillation with a bearish bias, still in a downward structure and not yet officially bottomed out. Early morning Lao Ma provided a high-level shorting idea.
Wednesday early morning outlook:
Bitcoin: Short around 68,800. Target 67,800
Ethereum: Short around 2,110. Target 2,050