From a technical perspective, Bitcoin's 1-hour candlestick chart is showing a fluctuating downward trend. The price faced pressure and retreated after touching the upper Bollinger Band, and is currently operating above the middle band, indicating a clear short-term downward trend. Meanwhile, the KDJ indicator's three lines are diverging downward in unison, and there is a phenomenon of fluctuation and dullness in the overbought zone (values above 80), indicating that bullish momentum continues to weaken while bearish forces are accelerating their accumulation.
From the perspective of volume coordination, this retracement is accompanied by a moderate increase in trading volume, reflecting a rising sentiment of profit-taking in the market, and the market is facing a strong demand for technical correction. The middle band of the Bollinger Bands serves as a short-term dividing line between bulls and bears; if the price effectively breaks below this level, it may further open up downward space; conversely, if the middle band provides effective support, a brief rebound may occur for correction.
Overall, a short-term bearish dominant pattern has been established, and attention should be paid to the volume and price performance at key support levels.
Morning Suggestions
Bitcoin 109800-110300, looking down at 107000
Ethereum 2790-2810, looking down at 2730
