The fluctuations of the market are merely reflections of the collective psyche; the ups and downs of candlesticks are truly the electrocardiogram of self-awareness. In a bull market, everyone is a genius; in a bear market, one sees who is swimming naked. True wealth is not a string of fluctuating numbers in your account, but the vision, temperament, and perspective you have refined in this ultimate game. Bitcoin has declined from the high point of 87189 in the early morning, reaching a low of 85073 before gradually stabilizing and rebounding, currently consolidating around 86200; Ethereum's trend is synchronized, having fallen from the high of 3016 to 2891 before finding support to rebound, now oscillating around 2960.
From the daily chart structure, prices have closed in the red for three consecutive days, forming a typical three consecutive red candlestick pattern. Meanwhile, the three bands of the RSI indicator continue to diverge downward, indicating that the downward momentum is still ongoing. This collectively indicates that the overall weak market pattern has not yet been reversed, and the bearish forces currently clearly dominate, controlling the direction of market trends in the short term. From the 4-hour level, although prices have shown a slight rebound after three consecutive red candlesticks, the lower and middle bands of the Bollinger Bands have both turned downward, showing an overall channel that is expanding. This indicates that the downward space is still being opened up further, and the short-term rebound can only be seen as a technical correction within the downward trend, with the rebound magnitude being limited and bullish momentum significantly lacking. The current rebound can be viewed as a preparatory phase for bears to accumulate strength and test prices downward again. Therefore, morning operations are advised to maintain a bearish outlook.
Trading advice:
Bitcoin: Short around 86500-87000
Target: Around 85000
Ethereum: Short around 2990-3010
Target: Around 2900 #BinanceABCs $BTC
