Gu Jingci: Analysis of Early Morning Trading Strategies for Bitcoin/Ethereum's Expected Rally and Pullback on May 12th

Yesterday morning, during the Bitcoin/Ethereum price surge, I decisively entered short positions near 82300 and 2380. The price subsequently dropped to around 80400 and 2300, resulting in a decent overall range. Currently, the price is consolidating in a narrow range after the dip, with weak momentum for either bulls or bears. However, the daily chart shows a pullback trend, and we'll see how long this pullback continues. Bitcoin's overall trend is stronger, with relatively smaller pullbacks. In the short term, we'll see if it can hold above the 81000-81500 level. Ethereum, on the other hand, has broken below the 8-hour and daily 7-day, 10-day, and 30-day moving averages around 2330-2340, creating some resistance in the short term. Bitcoin has repeatedly surged to the 82000-83000 level before falling back, suggesting a continued downward trend is likely. Early morning trading suggestions: Continue to short Bitcoin around 81300 to 81600, with a target of around 78500 to 79500; Continue to short Ethereum around 2320 to 2340, with a target of around 2230 to 2260.