$BTC Afternoon market review: Bitcoin pulled back from the morning high of 94040 due to resistance, with bullish momentum weakening. After a period of range-bound decline, it hit a low of 92366. Ethereum also experienced a synchronous pullback, failing to hold above after spiking to a morning high of 3239, and then trended downward, reaching a low of 3154.
On the four-hour chart, the Bollinger Bands are expanding downward, bearish momentum is being released, and the high-level consolidation pattern has been broken. The candlesticks have been closing consecutively in the red, and the rebounds are weak, forming a bearish structure of lower highs and lower lows, with bullish support completely collapsing. On the one-hour chart, the Bollinger Bands show an accelerated unilateral bearish trend, with a clear downward bias. Price action is running along the lower band, and trading volume shrinks significantly during rebounds, each rebound being suppressed by the middle band, and lows are repeatedly refreshed, with bears dominating the short-term trend.
Trading suggestion: Consider shorting Bitcoin around 93000, with a target of 91500. Consider shorting Ethereum around 3200, with a target near 3080.
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$BTC Afternoon market review: Bitcoin pulled back from the morning high of 94040 due to resistance, with bullish momentum weakening. After a period of range-bound decline, it hit a low of 92366. Ethereum also experienced a synchronous pullback, failing to hold above after spiking to a morning high of 3239, and then trended downward, reaching a low of 3154.
On the four-hour chart, the Bollinger Bands are expanding downward, bearish momentum is being released, and the high-level consolidation pattern has been broken. The candlesticks have been closing consecutively in the red, and the rebounds are weak, forming a bearish structure of lower highs and lower lows, with bullish support completely collapsing. On the one-hour chart, the Bollinger Bands show an accelerated unilateral bearish trend, with a clear downward bias. Price action is running along the lower band, and trading volume shrinks significantly during rebounds, each rebound being suppressed by the middle band, and lows are repeatedly refreshed, with bears dominating the short-term trend.
Trading suggestion: Consider shorting Bitcoin around 93000, with a target of 91500.
Consider shorting Ethereum around 3200, with a target near 3080.