From a technical perspective, Bitcoin's daily chart has closed in the red for two consecutive days, completely retracing the previous gains. The price has fallen back into the prior consolidation range and is under pressure from the moving average system, showing a bearish trend in the short term.
On the four-hour level, the Bollinger Bands are expanding downwards, with the price weakly adjusting. After a MACD double line death cross, it continues to decline close to the zero axis, with bearish volume bars continuously increasing. Additionally, the price has broken below the lower Bollinger Band, accompanied by a surge in trading volume, which may indicate a concentrated release of bearish power.
Currently, it is crucial to closely monitor the effectiveness of the support at the lower edge of the previous range, as well as whether the lower Bollinger Band continues to tilt downwards and if the MACD histogram's negative value continues to extend. If both occur simultaneously, it indicates that the downtrend may enter a "main down wave" phase. The operational strategy should maintain a trend-following rebound mindset, and investors need to respond cautiously.
Morning Suggestions
Bitcoin 94800-95300 range, look down to 93000; if it breaks, continue looking down to 92000
Ethereum 1800-1830 range, look down to 1730
