In the 4-hour chart of Bitcoin, the continuous appearance of bearish candles pushes the price to keep declining, ultimately breaking through the lower Bollinger Band. Meanwhile, the Bollinger Band further expands downward, indicating strong bearish forces in the market. From the MACD indicator perspective, the histogram remains consistently in the negative region, and the fast line and slow line continue to show a death cross pattern, extending further below the zero axis, further confirming the current bearish dominance in the market.
Additionally, the 20-period Exponential Moving Average (EMA20) on the 4-hour chart significantly suppresses the coin price. Although there are signs of a rebound correction in the short term, the strength is very limited, making it difficult to change the overall downward trend. If the price cannot effectively break through the key resistance level of 83500 later, there remains a risk of further decline in the coin price.
The current market trend shows a clear oscillating downward pattern, with previous gains fully reversed. The main resistance levels above that need to be closely monitored are the mid-axis position of 83500 on the 4-hour chart and the mid-axis position of 85000 on the daily chart. On the downside, the support level around 81000 is particularly critical; if this support level is breached, the next important support level will be the integer level of 80000. In terms of trading strategy, it is recommended to continue with a high short and low long approach within the range throughout the day.
For Bitcoin: 83500-84000 range, looking towards 82500-82000-81000
For Ethereum: 1940-1960 range, looking towards 1910-1880-1850
