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Friday, Week 3.6, latest afternoon strategy: Bulls are losing strength, and rebounds are just opportunities to short.
Yesterday's unemployment benefit data was bearish, and the market cooperated by moving downward. The lowest point dropped to around 70,100, as expected, and the strategy was perfectly executed. Today is Friday, also the end of the week. Black Friday is not about reversal patterns; in the afternoon, continue shorting on rebounds.
Tonight, the non-farm payrolls data will be released. Until then, everything is just a mystery; all the speculations are just guesses. Until the results are announced, we maintain a high short position.
Looking at the daily chart, a large bullish candle previously pushed above the upper band but was quickly pulled back by the bears, then fell below the lower band again. It shows that the bulls lack continuity. The four-hour chart also shows a pressure-driven decline. Currently, there is slight support around the middle band, but breaking below it is only a matter of time. After all, without major news catalysts, the market won't move entirely up or down in one go.
In the afternoon, reference Bitcoin at 71,200; short around 71,800. Below, watch 68,000-66,000.