Looking back at the daytime market, the overall market shows a steady downward trend, with the bearish trend dominating the market. Although there have been some rebound fluctuations during this period, they are insignificant and belong to a normal correction phase, which actually creates better entry opportunities for us. Remember not to fixate on bottom fishing; it is not that easy to catch the bottom. The bearish trend is still extending, and there is still a space for the bearish market. Reviewing the daytime layout, both Bitcoin and Ethereum have gained significantly.
From a detailed observation on the hourly chart, the current market clearly continues the running rhythm and pattern characteristics of the daytime period. Prices are continuously oscillating around the lower Bollinger Band, and the overall candlestick pattern exhibits a stair-step downward trend, with each brief consolidation followed by new lows, steadily pulling the market's focus downward. The bearish forces dominate the market, while buying power appears relatively weak, making it difficult to form effective rebound momentum. When combined with further analysis of the MACD technical indicator, the fast and slow lines have already formed a clear death cross below the zero line, and thereafter, they have been oscillating downward with hardly any significant reversal signs. Meanwhile, the histogram in the MACD indicator is showing a continuously elongating and deepening trend, indicating that bearish momentum is in a state of continuous release, with both the persistence and strength of the bearish trend becoming increasingly evident. In the short term, the market clearly favors a bearish pattern.
Monday evening trading suggestion: short Bitcoin in the range of 111700-112100, target at 11.
Monday evening trading suggestion: short Ethereum in the range of 4630-4670, target at 4400.
