4.30 Wednesday Morning Bitcoin and Ethereum Market Analysis and Trading Suggestions

In the early hours, the market exhibited a typical high-level pullback: Bitcoin reached around 95426, then started a fluctuating downward channel, ultimately stopping at around 93678. Ethereum moved in sync, retreating from a high of 1831, dipping to a low of around 1779. Xiao Ge's bearish outlook in the early hours was once again validated.

On the 4-hour chart, the Bollinger Bands show a clear convergence, with the distance between the upper and lower bands continuously narrowing and maintaining a horizontal extension. This technical pattern suggests that the market is in a consolidation phase, poised for movement. Currently, the middle band of the Bollinger Bands is flat, neither showing an upward slope nor a downward trend. It is noteworthy that the price fluctuation range is gradually narrowing to near the middle band, with trading volume shrinking in tandem. From a smaller hourly framework perspective, the price is forming a box-like fluctuation pattern within a narrow range, with clear trading range boundaries formed by the upper resistance and lower support levels. The MACD indicator's fast and slow lines are repeatedly entangled near the zero axis, with the histogram showing slight pulsing fluctuations. Short-term traders can attempt to buy low and sell high at the upper and lower edges of the range.

Bitcoin: Short positions can be considered around 94500-95000, with a short-term target of 93000.

Ethereum: Short positions can be considered around 1800-1820, with a short-term target of 1730.