Evening Market Analysis: BTC/ETH
BTC:
Market Review: The morning report clearly stated that we are currently at the end of a converging triangle, and there is no room for further sideways adjustments; the possibility of a downward wedge pattern is quite large. In terms of operations, focus on the upper pressure points between 1055-1065 for shorting opportunities. The afternoon rebound peaked at the 106524 position, and currently, the decline has exceeded 4000 points. The lower target of 1025 has already been achieved, and the movement fully aligns with expectations.
Outlook for Future Movement: The daily line shows a rise and fall, currently producing a large real bearish candle, temporarily breaking the support line of the lowest point in nearly a month at 103. The K-line arrangement shows a trend of oscillating downward. This weekend, there will be a slight decline, and next week’s downward target will approach the previous round's bullish starting point around 95. The 4-hour line currently shows two large bearish candles with significant volume, and no signs of stopping the decline have appeared. In terms of operations, do not easily attempt to catch a bottom; the prudent approach is to wait for a slight rebound and continue to look for shorting opportunities. Focus on the upper pressure points between 1035-1045 and the lower support points between 1015-1005.
ETH:
Market Review: The morning report clearly stated that the current structure is in a triangular convergence endgame state, entering a technical “critical point.” Moreover, the performance over the past ten days shows a lack of volume during the rise and a significant volume during the decline, indicating insufficient bullish confidence and a more proactive bearish stance. It was clearly stated to focus on the upper pressure points between 2530-2570 for shorting opportunities. The afternoon rebound peaked at 2569, with a maximum decline space of over 200 points, and the movement fully aligns with expectations.
Outlook for Future Movement: There was a rebound near the 2350 area after a sharp drop, which is just around the middle to long-term blue trend line for stopping the decline. During the adjustment period following the previous round of rise, the lower points between 2280-2310 can serve as the decline target for the next few days. If the bearish pressure continues to intensify, there may be opportunities to test near the 2000 point. In terms of operations, do not easily attempt to catch a bottom for a long position; it is advisable to maintain a primarily bearish stance. Focus on the upper pressure points between 2450-2480 for shorting opportunities and the lower support points between 2320-2350.
Recently, the interpretation of the market and the forecast of price trends have been very accurate. Friends in need can check my profile!
