From the current market perspective, the daily level shows that recent prices have retreated from high levels, forming consecutive bearish candles. The closing price on July 15 was 117658, down 2183 points from the previous day, indicating a significant short-term adjustment trend. The hourly level formed a small bullish candle at 13:00, but overall it remains in a weak oscillating pattern, with highs and lows gradually decreasing, reflecting cautious market sentiment.
The MACD hourly histogram remains negative, and both DIF and DEA are diverging downwards, indicating that bearish forces are dominant; the daily MACD is also starting to weaken, with signs of a death cross in the fast and slow lines. The RSI value is 33.18, close to the oversold range, indicating a potential technical rebound demand in the short term; the daily RSI has dropped to 42.38, showing a weakening of medium-term momentum. The EMA7, 30, and 120 moving averages are arranged in a bearish pattern, with the current price of 117658 having fallen below the EMA7, indicating significant short-term pressure; the daily EMA7 and EMA30 form resistance, with prices operating below the moving averages.
The Bollinger Bands show a deep downward divergence pattern, with a strong bearish trend returning, continuously guiding the market downwards. The upper, middle, and lower bands of the Bollinger Bands are all significantly sloping downwards, with the distance between the three bands significantly widening, indicating increased price volatility with a clear downward direction. This deep downward divergence structure reflects that the bearish forces hold absolute dominance, with strong selling pressure in the market, and sufficient momentum for the trend to continue downward. In the afternoon layout, we will follow the trend.
Bitcoin: Short around 118000-119000, target near 116000
Ethereum: Short around 2970-3000, target 2930-2900
