Yesterday, the daily trend of Bitcoin showed a downward trend from the highest near 95350, the lowest near 93000, and finally closed at near 93750. From a technical perspective, the long-term moving average represented by MA60 has not shown strong support at present. On the contrary, the market selling pressure has made the price have a further downward demand. The upper MA7 moving average has turned into a strong resistance, and the possibility of a breakthrough in the short term is low. The short-selling force of the MACD indicator continues to increase, indicating that the downward trend of the market is strengthening.

On the four-hour chart, although MA360 can theoretically serve as support, the current market sentiment is bearish and the support is questionable. The MA4 moving average constitutes the upper short-term resistance, and the MACD dead cross and the increase in short positions indicate that it is difficult for short-term prices to rise.

Comprehensive analysis shows that Bitcoin currently has an obvious short-selling trend. It is recommended to try shorting near 93500-94000, with a target of 91000.

As for Ethereum, the recent trend is also weak. Shorting can be considered near 3430-3440, with a target price set at 3300.

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