🔥Monday's Latest Market Thoughts
The overall momentum currently appears slightly weak, but there are signs of a gradual recovery in downward momentum.
From the hourly structure, prices have been consistently suppressed by the middle band of the Bollinger Bands, showing a step-like downward pattern; although there have been sporadic rebounds, the bullish momentum is clearly insufficient, failing to achieve an effective breakthrough.
Recently, the market has seen repeated back-and-forth movements, with excessive losses for the bulls, losing the capacity for a large-scale counterattack, and the market rhythm is gradually leaning towards the bears.
The bears continue to consolidate their position, and the downtrend is becoming increasingly clear. The weekend's fluctuations are essentially a power accumulation phase for the bears.
In the upcoming operations, it is suggested to follow the trend, primarily focusing on short positions around key resistance areas, and avoid blindly trying to catch the bottom.
$BTC : Enter short positions around 885000-89000, target around 87000, and cautious traders may take profits in batches.
$ETH : Enter short positions around 3020-3050, target around 2900, continuing with the trend-following approach.
