11.5 Afternoon Thoughts
(Continuing Morning Analysis)
Technical focus on the 4-hour candlestick chart, BTC price is like a frostbitten eggplant, weakly declining along the lower band of the Bollinger Bands, revealing a bearish trend. Looking at previous rebounds, the rhythm is sluggish like an old ox pulling a cart, with upward momentum as scarce as a dried-up well, fundamentally unable to reverse the downward trend. The short-term weakness has become a foregone conclusion, and a turnaround seems unlikely.
$BTC at around 102500-101800 short, target 100800, 100000, 99000, continue to look downward if it breaks
$ETH at around 3380-3330 short, target 3280-3200, continue to look downward if it breaks 3200 $BTC
BTCUSDT
Perp
86,144.4
-4.06%
ETHUSDT
Perp
2,922.64
-6.82%
