Due to the severe fluctuations in the financial markets caused by the Middle East conflict, Bitcoin plummeted nearly 5,800 points from early morning to nine o'clock, intensifying market panic. As the afternoon market trend gradually eased, the day session again entered a volatile phase.
From a four-hour perspective, after experiencing five consecutive bearish candles, the price briefly rebounded but failed to stabilize, soon encountering a new round of four consecutive bearish downtrends. The chart shows that the downward momentum continues to strengthen, with each bearish candle accompanied by increased volume, indicating significant signs of capital outflow.
In terms of technical indicators, the RSI indicator continues to hover in the oversold range, the Bollinger Bands are widening, and the moving average system shows a downward arrangement, clearly outlining a short-term downtrend. It is expected that the afternoon market will continue to exhibit a weak pattern, operating in a volatile manner, with the main force still optimistic about the evening trend.
In the afternoon, we continue with the morning's approach:
Bitcoin: range of 104500-105000, target 102500 for further decline
Ethereum: range of 2520-2540, target 2430 for further decline
Market conditions change rapidly; the above suggestions are for reference only, and specific operations should be based on actual circumstances!
