Monday Morning Jing Yi's Trading Strategy Analysis

A new week, a fresh start, everyone, good morning! This weekend was lively! Bitcoin reached a long-term profit-taking level at 3100 points, and Ethereum reached 145 points; it was a satisfying gain. Bitcoin continuously pulled back from the 738 resistance level, touching around 705 at the lows.

The daily chart remains in a volatile downward trend, generally moving within a range-bound box, with wide fluctuations and consolidation. In the short term, the upward movement faced resistance and failed to break through the upper boundary of the box, so a pullback correction is an inevitable trend. Focus on the support zone between 680-650; if it breaks effectively, look toward 630. If support stabilizes and does not break, consider re-entering long positions. The hourly moving averages are turning downward, so intraday rebounds can be followed by shorting.

Trading Suggestions
BTC should be shorted within the 710-716 range, with targets sequentially at 690 and 680. #Gate上线Pre-IPOs