Thursday Evening Silk Road
In the afternoon, the cryptocurrency market weakened, with Bitcoin and Ethereum continuing their downward trend. As of midday, the price of Bitcoin remained under pressure, hitting a low of 101,700; Ethereum also dipped, reaching an intraday low of 2,515, with significant volatility.
From a technical indicator perspective, the daily MACD indicator for Bitcoin has formed a death cross. Although the green momentum bars have narrowed, the RSI indicator has rapidly fallen to the edge of the oversold zone, indicating a potential short-term technical rebound window. However, the overall trend remains under bearish dominance, and the strength of any rebound is yet to be observed. On the 4-hour cycle chart, the price continues to run below the middle Bollinger Band, and a top formation has emerged, further exacerbating the short-term pullback risk. Pay attention to the breakout situation of the support level and maintain a cautious operational strategy.
Operational Suggestions:
For Bitcoin, consider shorting around 103,500-104,300, with a target near 100,000; if it breaks, look towards 98,000.
For Ethereum, consider shorting around 2,570-2,620, with a target near 2,480.
In the afternoon, the cryptocurrency market weakened, with Bitcoin and Ethereum continuing their downward trend. As of midday, the price of Bitcoin remained under pressure, hitting a low of 101,700; Ethereum also dipped, reaching an intraday low of 2,515, with significant volatility.
From a technical indicator perspective, the daily MACD indicator for Bitcoin has formed a death cross. Although the green momentum bars have narrowed, the RSI indicator has rapidly fallen to the edge of the oversold zone, indicating a potential short-term technical rebound window. However, the overall trend remains under bearish dominance, and the strength of any rebound is yet to be observed. On the 4-hour cycle chart, the price continues to run below the middle Bollinger Band, and a top formation has emerged, further exacerbating the short-term pullback risk. Pay attention to the breakout situation of the support level and maintain a cautious operational strategy.
Operational Suggestions:
For Bitcoin, consider shorting around 103,500-104,300, with a target near 100,000; if it breaks, look towards 98,000.
For Ethereum, consider shorting around 2,570-2,620, with a target near 2,480.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
BTC
104,943.99
+1.68%
ETH
2,426.21
-2.09%