Bitcoin closed down for three consecutive days, and Ethereum also showed a four-day trend of negative trend.

Yesterday, after the price of Bitcoin and Ethereum briefly rebounded to around $12,800 and $3,908, they encountered pressure and fell back, continued to fluctuate and gave up the recent gains, and finally closed at a low level, which was consistent with the analysis and forecast last night.

The current market presents a wide range of shocks and washes, and the short-term trend shows a downward trend. From the daily chart and the small cycle chart, the price closed at a low level, forming a small step-by-step shock downward mode.

It is expected that the price will fall further today.

From the 1-hour chart, the price of Bitcoin and Ethereum is running in a shock downward channel, and currently forms a secondary high point near $9,900/$3,530, which basically coincides with the upper downward trend line.

The intraday short-term trading strategy recommends rebound shorting. In view of the large price fluctuations, the stop loss and entry position should be adjusted appropriately, and it is recommended to enter the market in batches to reduce the risk of missing out.

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