The intraday market is coming to an end. Looking back at today’s market, since early morning, Bitcoin has shown a wave of fluctuating downward structure. Although there was some upward momentum in the morning, the upward space was quickly swallowed by subsequent pullbacks. In the evening, influenced by fundamentals (jobless claims and U.S. stock market trends), the market first surged to a high point of 105878 and then rapidly descended, hitting a low near 103800 before rebounding. The short positions laid out during the day and the short-term long positions were all successful. The basic trend of Ethereum is similar to that of Bitcoin; it rebounded to 2640 in the evening before showing a synchronized downward movement, hitting a low of 2560 before rebounding.
Looking at the overall situation, the daytime white plate market still aligns with our expectations, fluctuating and adjusting within a certain range. A point often mentioned is that the daily chart is contracting, with the K-line dominating the market, and the influence of fundamentals is substantial; the evening’s volatility is just like that.
On the four-hour line, it is currently in a fluctuating downward structure, and after receiving the influence of fundamentals, the market will show up and down pin bar movements, with point movements being frequent. However, although the downward trend is strong, the improvement of the BOLL bag opening is not obvious; the bag opening is still in a parallel form, and the pressure of the middle track is becoming stronger. The price will run between the middle and lower tracks and will seek opportunities to break below the lower track, with a higher chance of continuation, but the concentrated buying power below will also offer strong resistance.
In the future, Bitcoin reference around 104500, looking at 103000; Ethereum reference around 2580, looking at 2550-2500.
