The early morning market has once again completed its cycle, and finally, we see a slight pullback at around 937. Ethereum follows the same trend as Bitcoin, but the space does not provide much room; as long as the box structure remains intact, we should still follow the trend.
From the four-hour K-line trend of Bitcoin, the Bollinger Bands are showing a flat state. The current price is closely hovering around the middle track of the Bollinger Bands, failing to effectively break through and stabilize above the upper track, which clearly indicates a lack of upward momentum. If the price breaks below the middle track of the Bollinger Bands, it is highly likely to further test the lower track. Meanwhile, the three lines of the KDJ indicator are showing signs of a death cross, with the J value rapidly declining. This visual representation clearly shows that bearish forces are gradually strengthening in the short term, occupying a more advantageous position in the market. Looking at the MACD indicator, a death cross has already formed, and the bearish bars are continuously increasing. This characteristic clearly indicates that the bearish trend dominates the market. Overall, the performance of these three important technical indicators—Bollinger Bands, KDJ, and MACD—indicates that the market is releasing bearish signals, suggesting that Bitcoin may face some downward pressure in the short term.
In the morning, Bitcoin can be bought at 93700-93200, with a target near 95000; Ethereum can be bought at 1770-1750, with a target near 1850.
