Those who do not dare to take risks will always watch from the shore, while those who dare to embrace fluctuations can catch big fish in the tides. Every heartbeat in the cryptocurrency circle is proof that you are one step closer to your goal! On Friday afternoon, the market slightly rose to a high point of around 105,459 but faced resistance, then it oscillated within a small range. Ethereum's market also saw a rebound to a high point of around 2,545 before stopping, subsequently hovering around 2,520.
From the current market situation, the four-hour level shows that after a slight rebound, the bulls and bears are in a tug-of-war phase, but the Bollinger Bands maintain a downward opening stance. The MACD indicator has formed a death cross at a high level and is continually extending downward, with the histogram gradually enlarging below the zero axis. The overall trend still leans towards bearish. From the one-hour level, after the market warmed up to below the middle track of the Bollinger Bands, it alternated between small downward and upward movements; both the KDJ and RSI indicators show signs of turning downward. The MACD fast and slow lines exhibit a mutual adhesion below the zero axis, suggesting that the current consolidation is likely preparing for a secondary downward probe for the bears. Therefore, we will maintain a downward outlook for tonight.
Short Bitcoin around 105,500 with a target of 102,000.
Short Ethereum around 2,550 with a target of 2,450.
