After the continuous four bearish candles constructed a downward channel on the daily chart, the bulls attempted to fight back with a large bullish candle, but the overall price center still remains within the suppression range of the previous downward segment. Observing the market momentum indicator, while the MACD double lines show initial signs of rising below the zero axis, the crucial golden cross confirmation has not yet been completed. At the same time, the red and green bars continue to shrink, indicating that the bulls have not yet established sufficient momentum advantage in the short-term counterattack, and there are obvious hidden dangers for the continuation of the market.
Switching to the 1-hour cycle chart, after a rebound of three consecutive bullish candles, the price encountered significant resistance, failing to touch and break through the previous high before entering a correction mode. It is worth noting the recent pattern of continually moving lower highs and refreshing lower lows, which suggests that bearish forces still dominate the market. If the key resistance levels cannot be effectively reclaimed in the short term, the market may continue to show a fluctuating downward trend. The strategy should still focus on shorting during rebounds at high levels, and aggressive traders may take a small position to catch a wave of rebound!
Bitcoin: Short near 105500-105000, looking down at 103500-103000
Ethereum: Short near 2550-2530, looking down at around 2460