$BTC Greed can blind you to chasing highs, while fear can leave you in a panic. Learn to control your emotions, stay calm and rational, and operate according to your investment plan and strategy, without being swayed by the market's short-term fluctuations.
In the early morning, the overall price of cryptocurrencies showed a unidirectional downward trend, peaking at 120700 before retreating to around 118000 and stabilizing, then entering a rebound correction phase. Currently, Bitcoin is stable around 118800. Ethereum is similar, with the price retreating to 4182 after reaching 4370 and currently consolidating around 4230.
Looking at the 4-hour K-line chart, the price has recently fallen rapidly, with several consecutive bearish candles, breaking below the middle track, and the short-term trend has shifted from rising to falling, entering an adjustment phase. The DIF and DEA have formed a dead cross, and the MACD histogram is negative, indicating the release of bearish energy and the continuation of the short-term downtrend. The 1-hour level shows the upper track flattening out and moving downwards, the middle track support has failed and turned, while the lower track is relatively flat. The Bollinger Bands show signs of widening, indicating intensified short-term volatility, with the lower track possibly becoming a key support. In the morning, our strategy can focus on the bearish side.
Bitcoin: Short around 118900, target 117500
Ethereum: Short around 4250, target 4180
