Midnight market conditions release the pullback space again, and the bearish trend is strong. Bitcoin continues yesterday's trend, steadily declining from around 114,000 to the 112,700 level; Ethereum is relatively weak, with support around 4,100 stabilizing temporarily, but the pullback momentum is insufficient. This level may become a turning point for future trends; if effectively broken, the bear market may further continue.
The four-hour level shows that the formation of bearish candles indicates a phased pullback trend. Although there was some adjustment after the spike, the dominant bearish trend remains unchanged. The technical aspect shows a top divergence, with the fast and slow lines crossing downwards, and the death cross strengthening the pullback, with bearish strength continuing to accumulate, maintaining a short-term bearish pattern.
Wednesday morning operation suggestions:
Bitcoin: Short in the range of 113,500-113,800, target 111,500
Ethereum: Short in the range of 4,170-4,200, target 4,000
