Afternoon Thoughts
From the 4-hour technical chart observation, the current market shows a weak consolidation pattern. In the MACD indicator, the fast and slow lines continue to operate below the zero axis, with green momentum bars continuously being released, indicating that bearish forces dominate. At the same time, the short-term moving average EMA7 has crossed downward through the long-term moving average EMA30, forming a death cross, which constitutes a bearish signal. The price fluctuates narrowly between the two moving averages, and the candlestick pattern shows a downward oscillation trend, with each rebound high and pullback low continuously moving downward, indicating that the market is overall in a correction trend, with bears still holding the dominant advantage, and this weak pattern may continue in the short term.
Position Establishment
Bitcoin around 935 looking down to around 920
Ethereum around 178 looking down to around 170
