The daily chart shows that after a continuous rise, the market has fallen again, quickly giving up the recent upside.
The price has penetrated from the upper track to the middle track, and the decline is fast, and it has rebounded after bottoming out.
The current downward trend has broken the overall upward trend, and the overall market structure is weak.
The four-hour chart shows that the short-term upward momentum has been completely given up, and the trend structure is obviously biased towards weakness. The decline is fast and broke through the previous low, forming a new low.
From the previous form, the current rebound may only be a preparation for the next round of decline, making adjustments in time and space.
Next, we need to pay attention to whether we can break through the previous high in the short term. If the breakthrough fails, it may continue to turn to a callback.
Bitcoin is currently around 96,000, with a target expected to be around 93,000; Ethereum is operating around 3,330, with a target expected to be around 3,200.
