5.5 Cryptocurrency Morning Market Analysis: Sharp Drop or False Fall
Currently, in the market, Bitcoin has undergone two days of adjustment over the weekend, with prices declining continuously. Currently, Bitcoin has broken through the lower Bollinger Band on the four-hour chart like a broken kite, accompanied by a sudden increase in trading volume, which often indicates a concentrated release of bearish force.
At this time, two points need to be cautious: first, observe whether the lower band continues to slope downwards like a slide; second, confirm whether the MACD histogram is increasingly negative.
If both resonate, it indicates that the downward trend has entered the "main down wave."
The downward trend is too aggressive, and the upward momentum is depleting too quickly, making a reversal more likely. It’s important to maintain good defense here and consider trying to go long.
Operational Suggestions:
Long around 1750 for Ethereum, target 1820.
Long Bitcoin at 932, target 950.
