《Bitcoin/Ethereum Market Analysis and Short-term Trading》
In yesterday's cryptocurrency market, Bitcoin and Ethereum continued to implement a bearish strategy. Bitcoin entered short at the 108000 level, while Ethereum entered short above 2730, and the market trend met expectations. In the early morning phase, Bitcoin significantly dropped to around 104500, and Ethereum fell to around 2556, with a notable decline. The market then showed a rebound, and the rebound strength was strong, but upward pressure still exists. From the daily chart of Bitcoin, a consecutive bearish pattern has formed, with the price breaking below the middle Bollinger Band, and the MA moving averages successfully crossing below the 7-day and 10-day moving averages, turning the 108000 level from previous support into current resistance. Meanwhile, Ethereum has recently continued its divergence trend, and the support level around 2550 deserves close attention.
From the candlestick pattern analysis, both Bitcoin and Ethereum at the daily level show a continuous downtrend, with a clear bearish trend. The consecutive two days of large bearish candlesticks paired with long upper shadows visually reflect the heavy selling pressure above. In the 4-hour cycle, the candlestick is currently in a consolidation state, but overall it has not yet exited the descending channel. In terms of technical indicators, within the 4-hour cycle, the MACD indicator's DIF and DEA dual lines continue to run below the zero axis, and although the histogram has shown a certain degree of shrinkage after expanding, indicating a weakening of bearish strength, no trend reversal signal has yet appeared. Therefore, it is recommended to closely monitor the opportunity for another decline after the market rebound.
Based on the above analysis, today's trading suggestion is as follows: Bitcoin can lay out short positions in the 106300 - 106800 range, targeting around 104000; Ethereum can enter short positions in the 2640 - 2660 range, with the target price set around 2580.
