Bitcoin Ethereum Technical Analysis————
Recent articles have been bearish, suggesting to short, and have continuously hinted that the market needs to pull back. Yesterday's article indicated that Bitcoin did not continue to break the high point to allow us to enter, but the Ethereum article gave a short at 3488. Around 9:40 PM, I updated a short reminder that the 3488 short could continue to hold, and short again at 3500-3515. At that time, the high point was 3530, and the market rebounded around 10:15 PM to 3524 before starting to plunge downwards; this wave of short positions was accurately captured.
Looking at Bitcoin's daily chart, the previous candlestick closed as a solid bearish line, breaking below the 7-day moving average. This is the first time since the beginning of the month’s rise that the market has broken below the 7-day moving average. After a slight rebound at the open, the market is entering a consolidation phase. The Bollinger Bands continue to maintain a narrow state, and the short-term moving averages are trending upwards. Pay attention to the short-term resistance of the 7-day moving average. The MACD fast and slow lines are crossing and trending downwards, with the volume bars turning green and expanding. The KDJ is crossing downwards, and the VR indicator is consolidating around the 200 value. On the 4-hour chart, the candlesticks show continuous bearish declines, breaking below the 60-day moving average. The Bollinger Bands are slightly opening, and the short-term moving averages are turning downwards. The MACD fast and slow lines are crossing downwards, breaking through the 0-axis, and the volume bars are expanding again. The KDJ is trending downwards, paying attention to the support near the 0 value, with the VR indicator consolidating around the 70 value. Overall, the market has followed the previous expectations, with the direction being accurate. Yesterday's article pointed out that the divergence in the daily volume bars needs to correct. Although the market has followed the expectations, Bitcoin has shown weak rebound strength over the past two days, so no short entry points have been provided. In the short term, we still maintain a bearish outlook, as this pullback has not ended, and in the short term, it remains a rebound short, with resistance referenced below 96500.
Bitcoin short-term suggestion: 95777 short (strategy activated, profit can be managed independently)
Ethereum short-term suggestion: 3435 short (strategy activated, profit can be managed independently)
