Saturday morning Bitcoin and Ethereum market analysis and trading suggestions
Reviewing the market during the midnight period, overall prices showed a downward trend, with volatility remaining at a low level. Bitcoin faced pressure and retreated after reaching a high of
90460 at midnight, dropping to a low of around 87976; Ethereum also oscillated lower, pulling back from an evening high of 3110, touching a low of 2980 at midnight before gradually entering a consolidation phase.
Our bearish viewpoint proposed during the midnight phase was validated, with the team executing Bitcoin short positions near 90460 and exiting around 88360; Ethereum short positions were initiated at 3008 and exited near 3000, capturing approximately 2600 points and 130 points, respectively.
From the current market perspective, the signals have become clearer. The four-hour level has consecutively closed three bearish candles, breaking key support levels, with prices strongly falling below the lower Bollinger Band, and the moving average system showing a bearish arrangement, indicating significant trend pressure and sufficient short-term downward momentum.
The hourly chart, after a brief consolidation, has again experienced increased selling volume, with rebound momentum significantly weakened, and bears holding a dominant position, while there are no signs of relief in the pullback trend. Market panic sentiment has yet to be fully released, and the bearish trend is expected to remain persistent. In this environment, taking long positions against the trend carries high risks; we continue to emphasize that trading should align with the trend, and choosing direction is preferable to frequent operations for steady profit accumulation.
Trading suggestions:
Bitcoin: It is recommended to focus on short positions in the 90000-89500 range, targeting around 88000.
Ethereum: Consider short positions in the 3060-3030 range, targeting around 2950.
