Wednesday Morning Silk Road Analysis and Trading Suggestions:
From the weekly level, Bitcoin shows a bearish increment trend, with the original bullish candle having turned into a bearish candle, and the key support level focusing on the area around 89000. On the daily level, the market is under pressure and has closed bearish, with particular attention needed on the vicinity of 93200, which serves as a significant support reference at the daily level.
Switching to the four-hour structure, after the bearish forces of Bitcoin reached the lower boundary, signs of a rebound appeared. The primary focus above is around 96800, followed by a secondary focus around 98500, while the support below is around 95200. Looking at the one-hour structure, Bitcoin's bearish volume has shrunk, with the upper pressure point around 96500 and the lower support focus around 94500.
The daily technical chart clearly displays the current market's weak pattern. Although prices have repeatedly attempted to rise, they have consistently failed to stabilize above the key point of 98000, instead showing a trend of breaking down. The Bollinger Bands are diverging downwards in unison, and the channel is becoming increasingly wide, indicating that the subsequent downward space is likely to expand further. The moving averages across various cycles are also showing a bearish arrangement, continuously exerting downward pressure on the price. It is particularly noteworthy that the 15-day attack line has now moved close to the position of 98300, forming dynamic resistance and is slowly moving downwards.
The various indicators in the supplementary chart, such as MACD, KDJ, and RSI, are all showing a downward divergence trend, with significant volume characteristics, indicating a clear advantage for bears. If the price cannot effectively rebound above the short-term moving averages, it is very likely to maintain a volatile downward trend. Therefore, it is essential to be cautious about the risk of accelerated decline after breaking key support levels.
Trading Suggestions:
Long Bitcoin around 94800 - 95500, target 97000 - 97500;
Long Ethereum around 2550 - 2580, target 2630 - 2700.
$BTC $ETH #比特币行情行情