Monday Midnight🧭
Today's market shows a weak fluctuation. Bitcoin faced resistance at 95289 in the morning session and fell back, reaching a low of 93547. Ethereum also declined, hitting a high of 1857 before facing downward pressure, leading to a strong bearish sentiment throughout the day.
Recently, Bitcoin has been undergoing a consolidation phase. The four-hour Bollinger Bands are narrowing, indicating converging volatility. Resistance is significant at 95200, with strong selling pressure on the candlesticks, and attempts to test this level have failed. On the hourly chart, the moving averages are aligning flatly in a bullish formation, with the 5-day and 10-day moving averages frequently crossing, while the 20-day moving average is providing support near 93500. When prices surged, trading volume shrank, indicating low willingness to chase higher prices. 93000 serves as the lower support of the fluctuation range, and breaking below it could lead to a deeper decline; 91500 is a key psychological level, and operations at midnight still lean towards a bearish outlook.
Operation Suggestions
BTC: Short near 9450-9480, target 93000
