Beware! The recent fluctuations in BTC may not be over yet, be careful of further declines!
Looking at the recent four-hour chart, Bitcoin and Ethereum have been oscillating, lingering at a relatively low position, unable to go up or down. It feels like both buyers and sellers in the market are putting in effort, just waiting for one side to suddenly gain momentum and break this stalemate!
You can see the channel showing the volatility range; it has recently become narrower, indicating that the price is compressed in a small space, unable to move, and could be preparing to make a significant move in one direction at any moment. The small tails on the candlestick chart are quite numerous, but every time there’s an attempt to surge upward, it’s firmly held back by the crucial average line in the middle, unable to turn around at all. Looking at several commonly used moving averages, they are all pointing down, which is not a good sign. The most critical issue is that the price cannot stabilize at the 106300 level; it falls every time it touches it. Considering all these factors, it feels like the bears are temporarily more dominant, and this exhausting fluctuation might ultimately choose to drop downward.
Operational thoughts:
Bitcoin: If the price is between 105800 and 106300, you could consider shorting, with a target around 104500.
Ethereum: At 2560 to 2580, you might consider shorting, aiming for around 2480.
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