Looking back at the afternoon market, Bitcoin's price showed a waterfall-like drop, falling unilaterally, with bears continuing to retreat, reaching a low around 105,000. The long positions we set in the afternoon were unfortunately swept away. Ethereum moved in sync with Bitcoin's trend in the afternoon, currently retreating to around 2,540.
The price has fallen below the short-term EMA, and the moving averages are arranged bearishly, strengthening the downward trend. The DIF and DEA have crossed below the zero axis, with the bearish entity bars expanding and bearish momentum increasing. The 4-hour RSI has entered the oversold zone, and there may be a short-term rebound and repair demand, but the trend remains bearish. The price is operating under the pressure of the downward trend line. Currently, we should first pay attention to whether the 105,000 level can hold support, with the second support level at 104,500. We can take a short position in line with the trend. However, the main focus is still on capturing long positions at lower levels.
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