Rebound Offers Another Opportunity for Bitcoin and Ethereum Shorts
Bitcoin and Ethereum short positions have fallen as expected on September 8, according to analyst Gu Jingci. The market's rebound has presented another opportunity for investors to enter shorts. In a public plan shared by Gu Jingci, BTC/ETH setups were identified at 79,400 and 2,505, respectively.
As the market pulled back as expected to around 77,600 and 2,440, short positions were fully covered within the range. This strategy has been used successfully in recent days, with yesterday's morning short at 2,525 dropping to the 2,460 line.
Now, the market is rebounding again, which Gu Jingci sees as an opportunity for investors to enter shorts near 78,600 to 79,000, targeting around 77,000. For Ethereum, he recommends going short near 2,485 to 2,500, targeting 2,380 to 2,420.