Bitcoin is consolidating while Ethereum is catching up; how will the market unfold next? Let me tell you!

Bitcoin has been consolidating since this morning, while Ethereum is experiencing a rebound. Although they don't always move in sync, Bitcoin and Ethereum will eventually meet! This morning, the bearish sentiment continues as Bitcoin has slowly retraced since we entered around 95000, while we also leveraged 1000 points on Bitcoin. Exiting Ethereum at over 40 points was the right direction, making it easier to leverage! The price is currently around 94000, so what should we do this afternoon? Jin Cheng brings you the analysis!

The daily candlestick has formed a bearish doji star, and the price continues to hover around the lower Bollinger Band support. The lower band is opening downward, and the MACD bearish momentum continues to increase. The KDJ has crossed downwards, and there are currently no signs of a bottoming out! On the 4-hour chart, the price is retracing under the pressure of the middle band, rebounding from the support to create a bottom reversal. Today, we maintain a primarily bearish stance, relying on the middle band pressure here. The pressure areas today are focused on 95000, 96500, and 97700, while the support below is at 92500 and 90500. In summary, we focus on bearish positions, and any rebound to 95000, 96500, or 97700 presents opportunities to participate in bear positions, targeting 92500 and 90500 below. #BTC☀️ #ETH🔥🔥🔥🔥🔥🔥

Ethereum is currently around 3400. After all, it is only catching up and will eventually have to follow Bitcoin's path. If Bitcoin continues to decline, it is inevitable that Ethereum will drop as well, so Ethereum should primarily maintain a synchronized bearish outlook. The upper pressure areas are focused on 3420, 3470, and 3520, while the lower support is at 3340, 3280, and the 3200 level.