Bitcoin rebounded near 95000-94500 to short, look for 93000-92000
Ethereum rebounded near 1860-1815 to short, look for 1700-1730
From the recent analysis of Bitcoin's trend, the overall focus of the coin price shows a downward movement, reflecting a gradual increase in selling pressure in the market, with bullish forces gradually losing ground in the struggle against bearish forces. The Bollinger Bands, as an important technical analysis tool, consist of the upper band, middle band, and lower band, where the middle band is usually the 20-day moving average, effectively reflecting the medium-term trend direction. Currently, the middle band of the Bollinger Bands has shown signs of turning downward, which is a critical signal indicating that the medium-term trend may be gradually shifting from a previous upward or consolidation state to a downward trend. When the price operates above the middle band, it often means the market is relatively strong; however, once the middle band turns downward, it indicates that bearish forces are gradually gaining dominance, leading to a more pessimistic medium-term outlook for the market.
At the same time, the weakening of upward momentum is also a significant characteristic of the current market. In previous trends, although the price may have had multiple upward movements, none effectively broke through previous highs, indicating that bullish forces encountered strong resistance when attempting to break key resistance levels, making it difficult to form a sustained upward trend. This repeated failure to break higher not only depletes the energy of the bulls but also dampens market confidence to a certain extent.
Under the weak volatility pattern, bearish pressure is gradually increasing. On one hand, the price's inability to break through previous highs results in unmet bullish expectations, leading some bullish funds to choose to exit, thereby reducing the buying power in the market; on the other hand, seeing the price unable to break upward, bears intensify their selling efforts, further suppressing prices. During this process, market trading volume may also shrink, reflecting a decrease in trading willingness among market participants, with a strong wait-and-see sentiment. This imbalance between bullish and bearish forces gradually allows bears to take the initiative in the market, accumulating pressure and posing a risk of further price decline. If the market does not show positive changes in a timely manner, such as increased trading volume or the stimulation of major positive news, bearish pressure may continue to be released, pushing prices lower. Therefore, the strategy remains to short!
Ethereum rebounded near 1860-1815 to short, look for 1700-1730
From the recent analysis of Bitcoin's trend, the overall focus of the coin price shows a downward movement, reflecting a gradual increase in selling pressure in the market, with bullish forces gradually losing ground in the struggle against bearish forces. The Bollinger Bands, as an important technical analysis tool, consist of the upper band, middle band, and lower band, where the middle band is usually the 20-day moving average, effectively reflecting the medium-term trend direction. Currently, the middle band of the Bollinger Bands has shown signs of turning downward, which is a critical signal indicating that the medium-term trend may be gradually shifting from a previous upward or consolidation state to a downward trend. When the price operates above the middle band, it often means the market is relatively strong; however, once the middle band turns downward, it indicates that bearish forces are gradually gaining dominance, leading to a more pessimistic medium-term outlook for the market.
At the same time, the weakening of upward momentum is also a significant characteristic of the current market. In previous trends, although the price may have had multiple upward movements, none effectively broke through previous highs, indicating that bullish forces encountered strong resistance when attempting to break key resistance levels, making it difficult to form a sustained upward trend. This repeated failure to break higher not only depletes the energy of the bulls but also dampens market confidence to a certain extent.
Under the weak volatility pattern, bearish pressure is gradually increasing. On one hand, the price's inability to break through previous highs results in unmet bullish expectations, leading some bullish funds to choose to exit, thereby reducing the buying power in the market; on the other hand, seeing the price unable to break upward, bears intensify their selling efforts, further suppressing prices. During this process, market trading volume may also shrink, reflecting a decrease in trading willingness among market participants, with a strong wait-and-see sentiment. This imbalance between bullish and bearish forces gradually allows bears to take the initiative in the market, accumulating pressure and posing a risk of further price decline. If the market does not show positive changes in a timely manner, such as increased trading volume or the stimulation of major positive news, bearish pressure may continue to be released, pushing prices lower. Therefore, the strategy remains to short!
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BTC
94,782.6
-0.16%
ETH
1,797.93
-1.75%