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Gu Jingci: 2.16 Bitcoin/Ethereum retracement long positions continue to be patiently held, waiting for a rally.
After Bitcoin/Ethereum rose to around 70,500 and 2,095 respectively, multiple short positions were arranged based on the idea of a pullback. However, last night, when the market dipped below 2,000 and 68,800, I re-entered retracement long positions. Considering the overall strong trend of Bitcoin, the 68,000 level has not been broken, and the "auntie" (market participants) have not been forced out. Moreover, after the market dipped to around 68,000 and 1,930 overnight and early morning, it did not continue to decline but showed signs of stabilization. This coincides with the support levels encountered during previous dips. I am still holding these positions.
Currently, the market has seen a slight rebound, but overall sentiment remains fragile. However, some positive signals are emerging. The hourly and four-hour charts are also stabilizing, and the trend remains to buy on dips at support levels. The shift between bulls and bears is particularly important, just like how previous reminders at 66,000 and 1,940 repeatedly signaled to go long, and at 70,500 and 2,095 repeatedly signaled to short.
Trading suggestions: Buy Bitcoin near 68,000 to 68,500, with targets around 70,000 to 71,000; buy Ethereum near 1,930 to 1,950, with targets around 2,050 to 2,100.