Yesterday at midnight, the Bitcoin market showed a strong downward trend, with the price peaking at around 90599 in the evening before retreating. During the midnight period, the price reached a low of around 87872. Ethereum's midnight market moved in sync with Bitcoin, with the price dropping from the evening high of around 3077 to the midnight low of around 2961.
From the current chart, the daily level indicates that after several consecutive upward movements, the market has still not successfully broken through the selling pressure at the middle band of the Bollinger Bands. Although the price briefly spiked above the middle band, it quickly retraced, suggesting that the bulls' rebound lacks a certain breaking ability. Additionally, the current buying power seems slightly exhausted, indicating an overall weak pattern. From the four-hour level, after a significant downward move, the market stopped below the middle band of the Bollinger Bands, and the price has rebounded again, approaching the middle band. The Bollinger Bands have entered a parallel extension phase, and the MACD indicator shows signs of forming a death cross as the dual lines turn downward. Therefore, for morning operations, we can maintain a strategy of short positions after rebounds.
Bitcoin: Layout short positions in the 90000-90500 range, target attention at 87000
Ethereum: Layout short positions near 3050, target attention at 2900
