Bitcoin Ethereum Afternoon Thoughts
In the four-hour K-line chart of Bitcoin, the price has been oscillating downwards closely along the lower Bollinger Band, demonstrating a strong bearish pressure. Currently, the three Bollinger Bands are showing a clear downward divergence; the lower band has not been able to form effective support and is continuously refreshed as the price decreases, persistently pulling the price lower. The middle band has become a strong resistance line, with multiple rebounds followed by rapid declines, forming a typical 'downward probing - pressure' cycle. It is noteworthy that the moving averages across all timeframes are in a bearish arrangement, with short-term moving averages continuously suppressing long-term moving averages. Combined with the MACD indicator continuously flattening below the zero axis, the bearish momentum bars are extending, further confirming the market's strong bearish sentiment. This technical formation indicates that in the short term, bearish forces dominate the market. If the price breaks below the current lower band support, it is highly likely to trigger a new round of accelerated downward movement. Investors should closely monitor market movements to seize potential trading opportunities.
Aggressive traders can short at the current price, targeting 100000-99500.
Conservative traders can wait for a rebound to the 102600 level to short, targeting 100500.
Aggressive traders can short at the current price, targeting around 2180 for Ethereum.
Conservative traders can wait for a rebound to the 2280 level to short, targeting 2200.
Leave enough room for averaging down, and do not blindly go all-in!