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0 Today's Analysis and Recommendations
The Bitcoin daily chart shows a large bearish candle, with prices declining and closing at a low position, breaking not only the recent mid-line but also reaching the lower line, clearly indicating weakness in the trend. As of now, there are no signs of a bottoming out, and effective support is hard to find, which undoubtedly increases the likelihood of further declines, while also weakening upward momentum, suggesting a potential for further deep adjustments in the short term. The daily structure has repeatedly tested high points without breaking through, and after a period of consolidation at high levels, the large bearish K-line indicates a downward trend, with prices even dipping to the 62600 line early this morning, significantly increasing the daily volatility, and showing a falling trend from the daily perspective. On the 4-hour chart, the weak downward trend began almost at the opening, with a series of bearish candles demonstrating strong momentum for a one-sided decline, directly breaking the lower Bollinger band. Currently, the 4-hour structure shows a very strong one-sided downward trend. In terms of today's short-term outlook, further declines are expected, and the main strategy should be to short on rebounds.
Trading Recommendations:
Short Bitcoin around 94000-94500, targeting a drop of 400-3500 points.
Short Ethereum around 3420-3450, targeting around 3260.
$BTC $ETH
The Bitcoin daily chart shows a large bearish candle, with prices declining and closing at a low position, breaking not only the recent mid-line but also reaching the lower line, clearly indicating weakness in the trend. As of now, there are no signs of a bottoming out, and effective support is hard to find, which undoubtedly increases the likelihood of further declines, while also weakening upward momentum, suggesting a potential for further deep adjustments in the short term. The daily structure has repeatedly tested high points without breaking through, and after a period of consolidation at high levels, the large bearish K-line indicates a downward trend, with prices even dipping to the 62600 line early this morning, significantly increasing the daily volatility, and showing a falling trend from the daily perspective. On the 4-hour chart, the weak downward trend began almost at the opening, with a series of bearish candles demonstrating strong momentum for a one-sided decline, directly breaking the lower Bollinger band. Currently, the 4-hour structure shows a very strong one-sided downward trend. In terms of today's short-term outlook, further declines are expected, and the main strategy should be to short on rebounds.
Trading Recommendations:
Short Bitcoin around 94000-94500, targeting a drop of 400-3500 points.
Short Ethereum around 3420-3450, targeting around 3260.
$BTC $ETH
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BTC
92,088
-6.08%
ETH
3,316.61
-4.95%
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