Evening Market Analysis: BTC/ETH

BTC:

Market Review: The morning report clearly stated that we are at the end of a converging triangle, and there is no room for continued sideways adjustment. The likelihood of a descending wedge pattern is quite high. In terms of operations, focus on the resistance around 1055-1065 for shorting opportunities. The highest point of the afternoon rebound was at 106524, currently down by over 4000 points, and the lower target of 1025 has been achieved, with the trend completely in line with expectations.

Outlook for Future Trends: The daily trend has surged and then retreated, currently showing a large bearish candlestick, temporarily breaking below the defensive line of 103, which has been the lowest point in nearly a month. The K-line arrangement shows a trend of oscillating downwards, maintaining a slight decline over the weekend. The downward target for next week will be around the previous round of rise starting point near 95. The 4-hour candlestick currently shows two large bearish candlesticks with volume increase, without any sign of a stop in the decline. In terms of operations, do not easily try to catch the bottom; a more prudent approach is to wait for a slight rebound to continue looking bearish, with key resistance levels to watch at 1035-1045 and key support at 1015-1005.

ETH:

Market Review: The morning report clearly stated that the current structure is in a triangular convergence endgame state, entering a technical “critical point.” The performance over the past ten days shows increasing volume on the downside and decreasing volume on the upside, indicating a lack of confidence from bulls and a more active stance from bears. It was clearly mentioned that the key resistance to watch above is around 2530-2570 for shorting opportunities, with the highest point of the afternoon rebound at 2569, allowing for a maximum drop of over 200 points, which aligns perfectly with expectations.

Outlook: There was a rebound near the drop spike around 2350, coinciding with the mid-long term blue trendline, which has halted the drop. During the adjustment period after the last rise, the lower points around 2280-2310 can be seen as the recent downward target. If the bearish sentiment intensifies, there may be further opportunities to drop near the 2000 point. In terms of operations, do not easily try to catch the bottom to go long; focus on a primarily bearish approach, with key resistance levels to watch at 2450-2480 for shorting opportunities and key support at 2320-2350.