The charm of the cryptocurrency market lies in its uncertainty and infinite possibilities. Just like the brightest star in the night sky often shines at the darkest moments, every adjustment in the market is a quiet arrangement for future opportunities. Over the weekend, the Bitcoin price began to rebound after dipping to a low of 104225 in the early hours, reaching a high of 105631 in the morning before oscillating within a small range. Ethereum's price movement synchronized with Bitcoin, rising from a low of 2488 to a high of 2540 before pausing and entering a consolidation phase.
According to the current market situation, the four-hour level shows a two consecutive bullish rebound, but the pressure from the middle band of the Bollinger Bands has caused the bullish momentum to weaken, and the price rise has also halted. The overall trajectory remains within the middle and lower bands of the Bollinger Bands. The MACD indicator's dual lines are running closely below the zero axis, and currently, both bulls and bears are in a tug-of-war phase. From the one-hour level perspective, the price has retraced below the upper band of the Bollinger Bands and is slowly rising with three consecutive bullish candles, but the real body of the bullish candles is relatively small, leaving long upper shadows. The KDJ indicator's three lines have all entered the overbought zone, and the MACD histogram is gradually shrinking above the zero axis, indicating an expectation of an overall trend pullback. Therefore, in the afternoon, we will operate with a bearish mindset.
Bitcoin can be shorted around 105600-106000 with a target of 104000.
Ethereum can be shorted around 2550 with a target of 2480.
