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Black Friday is not living up to its name; today's market has been continuously falling since early morning. The evening's US Non-farm Payrolls (NFP) data was also below expectations, which should be positive news. However, to be honest, I no longer fully trust the impact of such news. It's like Powell's speech the other day in the early morning, which only caused a brief shock to the market and didn't have much continuation. Currently, after falling to 114000, there has been a rebound, but any rebound now is viewed as a bull trap. As we mentioned in our afternoon analysis, the trend will not change in the short term. We just need to pay attention to whether it is counter-trend short or existing price short.
From the hourly level, the market formed a three consecutive bearish candle pattern after a slight rebound. The Bollinger Bands still maintain a downward opening posture, with the lower space completely opened. The shorts continue to increase, and all key support levels below have been broken. The adjustment points keep diving, indicating that the downward cycle is not yet over. Although there is a slight rebound in the current price comparison, the strength of the rebound is not significant, and the overall bearish trend has not changed. In the evening, continue to operate with high shorts.
You can short Bitcoin around 116000-116300, looking at 114000.
Short Ethereum around 3680-3700, look at 3550 #BTC #