$BTC Bitcoin's trend line has broken at 109100, starting a | 过眼云烟 on Binance Square

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$BTC Bitcoin's trend line has broken at 109100, starting a new bearish market at 126200.
It has reached 122600, and currently, we cannot go long. If you want to make a short-term long, wait for it to break down and recover or look for a narrow range consolidation.
Currently, my view is to rebound and look for bearish positions. If Bitcoin is weak, it won't go above 123400 or 124100, and it will only go down to 120800.
Today is Tuesday. If it can rebound to around 124600 in the next two to three days, then it's time to close the shorts, with a stop loss at 125100.
Regarding Ethereum, my personal view is to wait a bit more. Look at the weekly chart of Ethereum, and you'll find a pattern: at the end of a big bullish market, it falls for two weeks, then rebounds for two weeks. After two weeks of rebound, the bulls often exhaust, so I’m considering shorting both Bitcoin and Ethereum next week, provided it closes with a bullish candle this week.
For Ethereum, I’m watching if it can reach between 4775 and 4796; if it breaks 4800, set a stop loss, as that would be a narrow range, with a significant risk-reward ratio.
If it hits the stop loss, observe and short on the right side when it comes back down.

过眼云烟

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$BTC $ETH
Bitcoin's 4-hour bearish pattern is beginning to show.
The range between the highs created in the 4-hour chart is narrowing, indicating signals of exhaustion from the bulls, but the bears have not yet taken action. The long upper shadow is due to certain selling pressure on the spot market, and the 4-hour MACD is showing a top divergence, along with a divergence in volume and price.
It could either be that the climb is preparing to peak, or it could fall back to 126200 to form a double top, let Bitcoin cool off at the mountain top for a while.
The intraday short-term support is still around 123400, and the liquidation heatmap shows some liquidity between 123400 and 123700.
If 123400 can hold, there should be a small rebound, and if it goes lower, we can only look at around 122600 and 120800.
The major bearish trend has not yet been completely confirmed, so everyone should be patient.
Subsequent potential shorting opportunities exist at 124600 or 125500 or the previous high; if it breaks down and falls back, then short. The 15-minute K-line high point at the time of breaking through the previous three resistance levels can be used as a stop loss, which can be slightly adjusted upwards.
Alternatively, if Bitcoin stops playing tricks, a rebound short can be made after breaking below 109100, the bullish trend line.
Ethereum's bullish momentum is relatively strong, and the bears are scared off, but there is a potential double top divergence trend in the 4-hour chart, which may lead to narrow fluctuations before a reversal. The intraday support is at 4605, with pressure above at 4717 and around 4775.

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