Today's price comparison continues to show a rebound repair. After the cryptocurrency price touched the resistance level above 92,000, it continued the previous retracement trend, quickly falling below 90,000. Currently, the price is in a low-level consolidation phase around this critical point. From the current trend, the retracement trend of the cryptocurrency price has not yet ended. Recent practical trading students' positions are still steadily accumulating following the rhythm. Those who have not had ideal operations recently may consider following Zhi Yu's rhythm.
Looking at the four-hour chart of Bitcoin, the tug-of-war between bulls and bears at the four-hour level is still ongoing. After a rapid rebound to the upper band with consecutive positive candles, a large bearish candle caused the price to quickly fall to the median area. From the overall candlestick structure, the range of tug-of-war between bulls and bears has shown a narrowing trend. The Bollinger Bands are also slowly contracting. Currently, the hourly KDJ three-line indicator is accelerating downwards, and bullish momentum is continuously weakening, indicating a further downward trend in the price. In the short-term hourly view, after a rapid drop to the lower band with five consecutive bearish candles, a long upper shadow doji was formed. The bullish counterattack has not achieved substantial rebound repair yet. Continuous lower shadows also indicate that there is certain support at the lower band. The current horizontal consolidation is more about the increasing demand for technical repair, and the overall trend remains unchanged. After the repair and consolidation, we continue to watch for the continuation of the retracement trend. After the morning US stock market closes, we will look at the rebound repair on the chart.
Short on Bitcoin near 90,200, focus on around 98,500; short on Ethereum near 3,130, focus on around 3,000;
