Bitcoin and Ethereum have recently experienced rollercoaster movements. Bitcoin sharply dropped in the afternoon yesterday, reaching a low of 63,000 before stabilizing. Subsequently, the bulls gradually gained strength, recovering lost ground, with a rebound to around 68,200; the trend moved in sync, with a dip to 1,834 and then a steady rebound, reaching a high of 2,054, forming a clear V-shaped reversal in the short term. In yesterday’s layout, Lao Hu successfully closed his short position at 66,000, gaining 2,000 points; this morning, the short position was slightly stopped out with a 500-point loss. Stop-loss is never about admitting defeat but about actively managing risk. It’s like a seatbelt in a car—often unnoticed during normal driving but crucial at critical moments to protect the bottom line and preserve capital. Truly excellent traders are not always right but know when to cut losses to minimize damage.

From the overall market perspective, the current trend remains in a wide-range tug-of-war pattern. In the short term, the bulls still retain some rebound momentum, but resistance levels above have been tested multiple times. Several rounds of rebounds have faced pressure and pulled back at key points. The risk of chasing highs is already high, and the characteristics of top resistance are becoming more obvious. The short-term downside risk has increased accordingly. Although the price has experienced a brief retracement after a rapid decline, it has not been able to stabilize above key support levels, instead facing renewed pressure and declining again. This indicates that the bulls are temporarily unable to push prices into a sustained upward trend. However, after previous extreme volatility, the market itself needs time to digest and stabilize. Today’s trading strategy should avoid chasing highs or selling lows; instead, focus on range-bound trading around key levels.

Trading Suggestions:
Bitcoin 67,000–67,500 can be shorted, with a target of 65,000.
Ethereum around 2,000–2,030 can be shorted, with a target of 1,900.