The daily line closed bearish yesterday, and influenced by the previous large bearish candlestick, the overall market has once again returned to a downward channel, with the situation still favoring bears. Friends trading on a swing and medium to long-term basis do not need to rush to exit.
On the 4-hour line, a unidirectional downward structure has emerged, with sustained bearish volume causing the price to break below the lower track this morning. MACD has once again formed a death cross, and the downward trend of the KDJ three lines is evident. There is still space below in the short term, and trading volume has decreased at the current price, necessitating caution against a certain degree of rebound.
On the hourly line, after a slight struggle in the morning, the market continues to decline. There are no signs of a turnaround in the downward trend of the middle and lower tracks, and the strong bearish volume in the short term has caused a divergence with the upper track. Other technical indicators are also heading downward. It appears that there will be a consolidation adjustment around 78000; if it fails to stabilize above 7800, then the intraday points could range from 78000 to 72000.
In the morning, for short-term large Bitcoin, refer to around 77500, looking at 76000; for Ethereum, refer to around 1550, looking at 1500.
