Recently, market prices have continued to fluctuate narrowly around the 96000 line, showing a sideways consolidation pattern. Observing from the daily level, on May 1st, the price forcefully closed with a long bullish candle, forming a significant upward breakout signal. However, in the following trading days, it failed to maintain the upward momentum and instead entered a correction phase, indicating a short-term weakening of bullish strength.
In terms of technical indicators, the MACD indicator on the 4-hour cycle is currently still in the negative area below the zero line, but the dual lines show a clear convergence trend, suggesting that short-term bearish momentum is gradually weakening, and there is a possibility of a technical rebound in the market. In contrast, at the daily level, the MACD indicator continues to operate downward, with the histogram line remaining below the zero line, indicating that the medium to long-term market is still dominated by a downward trend, and the overall price pressure pattern has not been effectively reversed.
For Bitcoin, short positions are suggested around 96300-96800, targeting the second goal at 93000.
For Ethereum, short positions are suggested around 1860-1880, targeting 1800.
In terms of technical indicators, the MACD indicator on the 4-hour cycle is currently still in the negative area below the zero line, but the dual lines show a clear convergence trend, suggesting that short-term bearish momentum is gradually weakening, and there is a possibility of a technical rebound in the market. In contrast, at the daily level, the MACD indicator continues to operate downward, with the histogram line remaining below the zero line, indicating that the medium to long-term market is still dominated by a downward trend, and the overall price pressure pattern has not been effectively reversed.
For Bitcoin, short positions are suggested around 96300-96800, targeting the second goal at 93000.
For Ethereum, short positions are suggested around 1860-1880, targeting 1800.
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BTC
96,880
+3.16%