Qin Feng's Morning Thoughts

In the hourly chart, the MA144 and MA169 moving averages create a significant downward pressure zone, and the price of Bitcoin continues to be suppressed below these moving averages, with clear upward resistance. In the MACD indicator, green bars are continuously expanding, indicating strong bearish momentum without signs of exhaustion. Currently, the support at 110484 is short-term; if this level is effectively broken, the price may continue to decline further.

Bitcoin is short around 113500-113000, with a target near 112500.

Ethereum is short around 4750-4720, with a target near 4680. #btc