Looking at the 1-hour cycle, price has experienced significant selling pressure from the highs, consecutively breaking through the lower Bollinger Band and multiple short-term moving average supports, with the short-term bearish trend fully established. Current market weakness shows a feeble rebound, with the entire rebound constrained by moving average resistance, continuous volume contraction, and the rebound lacking momentum support.
From an indicator perspective, while KDJ shows minor recovery, it continues to operate below the 50 midline without forming effective reversal signals - merely representing moderate oversold recovery. Price has refreshed the phase low at 70456, with the rebound failing to recover the 50% level of the previous large bearish candle, indicating continued heavy selling pressure and higher probability of further downside in the short term.
Trading Suggestions
BTC around 71500 targeting around 70000 ETH around 2220 targeting around 2150
Morning Analysis
Looking at the 1-hour cycle, price has experienced significant selling pressure from the highs, consecutively breaking through the lower Bollinger Band and multiple short-term moving average supports, with the short-term bearish trend fully established. Current market weakness shows a feeble rebound, with the entire rebound constrained by moving average resistance, continuous volume contraction, and the rebound lacking momentum support.
From an indicator perspective, while KDJ shows minor recovery, it continues to operate below the 50 midline without forming effective reversal signals - merely representing moderate oversold recovery. Price has refreshed the phase low at 70456, with the rebound failing to recover the 50% level of the previous large bearish candle, indicating continued heavy selling pressure and higher probability of further downside in the short term.
Trading Suggestions
BTC around 71500 targeting around 70000
ETH around 2220 targeting around 2150