From a technical perspective, the current bearish trend is significant. On the four-hour level, the price has broken through the lower Bollinger Band and continues to decline along the lower band, which is characteristic of a bearish trend where prices move along the lower band. The expansion of the three Bollinger Bands forms a trumpet shape, indicating that downward momentum is increasing and volatility is intensifying.
In terms of technical indicators, after the MACD golden cross formed at midnight, the market is still declining, which is a failure of the "underwater golden cross". The elongation of the green bars shows that bearish strength is dominant. On the hourly level, a one-sided bearish trend is present, with highs and lows consistently moving lower, which conforms to the characteristics of a bearish trend. In the short term, it may be a reference for trend-following short positions.
In summary, the resonance of short-cycle and medium-cycle trends, along with a complete bearish structure, suggests that it is advisable to continue with a bearish strategy, entering based on the resistance levels during hourly rebounds.
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