$ETH Greed will make you blindly chase highs, and fear will make you panic. You must learn to control your emotions, remain calm and rational, and operate according to your investment plan and strategy, not swayed by the market's short-term fluctuations.
In the early morning, the overall cryptocurrency price showed a one-sided downward trend, peaking at 120700 before retreating to stabilize around 118000, and then entering a correction phase; currently, Bitcoin is stabilizing around 118800. Ethereum is similar, with the price retreating to stabilize at 4182 after reaching 4370, currently consolidating around 4230.
From the 4-hour candlestick chart, the recent price has quickly retreated, continuously forming multiple bearish candlesticks, breaking below the middle track, indicating a short-term trend shift from rising to falling, entering an adjustment phase. The DIF and DEA have formed a death cross, and the MACD histogram is negative, indicating the release of bearish energy and continuation of the short-term downward trend. The hourly level shows that the upper track is flattening downwards, the middle track's support has failed and turned down, and the lower track is relatively flat. The Bollinger Bands are showing signs of widening, indicating an increase in short-term volatility, with the lower track potentially becoming a key support. In the morning, we can focus our strategy around bearish positions.
Bitcoin: Short near 118900, target 117500
Ethereum: Short near 4250, target 4180
