The afternoon market is once again accurately grasped. The afternoon market first maintained a long period of oscillation and adjustment, then moved into a slow decline. Currently, Bitcoin has broken the point of 94,000, and Ethereum has broken the point of 1,800. After breaking these points, there was no deep decline but a rapid rebound. Some positions in the afternoon short egg layout have also exited.
At present, the overall trend is still downward. After the afternoon rebound finishes, it has oscillated for a long time above 94,500 but has not been able to break through the 95,000 line, making it a key resistance level in the short term. Before the pressure support position conversion is completed, it is difficult for the market to achieve significant progress. On the technical side, the four-hour technical indicators are still slightly diverging. The cryptocurrency price will still operate around the lower track in the short term. Before another downward test of the bottom, it is still hard to have an effective rebound. On the hourly chart, after the previous downward test of the bottom, both bulls and bears have taken turns to dominate for a certain period, and the strength of the rebound is gradually weakening.
In terms of subsequent layout, it will still follow the previous silk road for the short egg. Bitcoin is expected to look down to 93,000, and Ethereum to 1,750. Be cautious when entering during the rebound process.
