Remember, the path in the cryptocurrency world may be full of thorns, but as long as you have firm beliefs, continuously learn and improve yourself, and respond to market changes with reason and wisdom, you will definitely be able to reap your own wealth in this field. Do not be afraid of failure; every setback is a stepping stone to success. Do not rush to achieve results; the accumulation of wealth takes time and patience. In your journey in the cryptocurrency world, may you be the one who laughs last. Yesterday, the market continued its oscillating downward pattern, with Bitcoin touching a high of 116928 in the early session before facing pressure and pulling back, continuing to decline throughout the day, eventually stabilizing briefly around 113383; Ethereum gradually pulled back from its high of 4388, reaching a low of 4157. Although there were multiple attempts at rebounds during the day, the bearish forces firmly dominated the market, and the overall downward trend remained unchanged, with bearish momentum continuing to exert pressure. In the midnight market, Ethereum hit a low of 4100, while Bitcoin dipped to around 112700, further refreshing recent lows.
From a four-hour perspective, the market shows a clear characteristic of bearish candle arrangement, forming a phase of corrective trend. It is noteworthy that after each spike and pullback, the market enters a certain period of adjustment, but this does not change the overall direction of movement, which is still dominated by a bearish trend. In terms of technical indicators, the market has formed a top divergence pattern, which signals that there may be pullback pressure on the current trend. Meanwhile, the golden cross of the fast and slow lines continues to move downward, with the dead cross that appeared during this period further reinforcing the pullback trend, indicating that bearish forces are continuously accumulating and the depth of the trend is also deepening. Overall, the pattern dominated by bearish forces is expected to continue in the short term.
Trading Suggestions:
Bitcoin: Short near 113500, target 112000
