$ETH Greed can make you blindly chase highs, while fear can leave you in a panic. You need to learn to control your emotions, remain calm and rational, and operate according to your investment plan and strategy, without being influenced by the market's short-term fluctuations.
In the early hours, the overall price of cryptocurrencies showed a one-sided downward trend, peaking at 120700 before retreating to stabilize around 118000, and then entering a rebound correction phase. Currently, Bitcoin is stabilizing around 118800. Ethereum is similar, with the price retreating to stabilize at 4182 after reaching 4370, and currently consolidating around 4230.
From the 4-hour candlestick chart, the recent price has quickly fallen back, continuously closing several 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 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 and moving downwards, the middle track support has failed and turned, and the lower track is relatively flat. The Bollinger Bands show signs of expansion, indicating a heightened short-term volatility, with the lower track potentially becoming a key support. This morning, we can focus on bearish strategies.
Bitcoin: short near 118900, target 117500
Ethereum: short near 4250, target 4180
