Wednesday Morning Analysis:
The current market is in a phase of fluctuating adjustments. Although the daily chart closed with a large bullish candle at a high position, successfully reclaiming the losses of the previous day, the overall bearish trend has not fundamentally changed, especially as an important resistance barrier is formed around the 85000 area. From a technical analysis perspective, although the 4-hour candlestick level once broke through the middle band of the Bollinger Bands, showing a brief one-sided upward trend, the trading volume did not significantly increase, and it encountered resistance below the key resistance level of 84000, indicating insufficient bullish strength, while the selling pressure above has still not been effectively released.
Currently, the Bollinger Bands are showing a contracting shape, and as the price has not effectively broken through the double top structure formed by the previous high, it suggests that the market is likely to enter a stage of reorganization of bullish and bearish forces at the weekly level. In the medium term, the market may undergo a deeper price adjustment process. Therefore, it is recommended to maintain a bearish operational mindset.
Morning operation suggestions are as follows: For Bitcoin, it is recommended to short near the 83500 to 84000 area, targeting the 81000 to 80000 range; for Ethereum, it is recommended to short near 1920, targeting around 1850.
