Bitcoin/Ethereum continued to implement short positions yesterday, entering the market above 108000 and 2730 respectively. The market dropped significantly in the morning to around 104500 and 2556, indicating a relatively large overall decline. After the morning drop, there was some rebound, which was relatively strong, but the upper side remains under pressure. Bitcoin's daily chart has begun to show a series of consecutive bearish candles, breaking below the middle line of the Bollinger Bands, with the moving averages breaking below the 7-day and 10-day indicators at the 108000 level, subsequently forming a top-bottom conversion repression. Ethereum has still been showing a divergence pattern in recent days, with support to watch at the 2550 level.
In terms of Bitcoin/Ethereum candlestick patterns, the daily level shows a continuous decline in recent prices, forming a clear bearish trend. There have been two consecutive large bearish candles accompanied by long upper shadows, indicating heavy selling pressure above. In the 4-hour cycle, the current candlestick is in a state of consolidation, but overall it remains within a descending channel. In terms of technical indicators in the 4-hour cycle, DIF and DEA continue to stay below the zero line, and although the histogram has slightly shrunk after expanding, it indicates that bearish strength has weakened but has not yet reversed, waiting for the market to rebound before declining again.
Trading suggestions BTC: around 106300 to 106800, target near 104000; ETH: around 2640 to 2660, target near 2580.