In the wave of rises and falls in the crypto circle, there are no eternal smooth roads, nor everlasting winter. The fluctuations of the K-line are just the breathing of cycles; the volatility of accounts is a mark of cultivation. Bitcoin encountered resistance around 88,000 in the early morning, with a bearish increase pushing it down to around 86,200. The midday market then entered a range-bound oscillation between 87,200 and 86,200. On Wednesday, during the day, Bitcoin's trading pattern showed a development of oscillating slow upward movement, followed by a strong surge to a high point in the evening, then a deep correction. The price narrowed its range from the earlier 87,500 zone, oscillating sideways, and after rebounding to around 90,360, it paused. It then entered a strong downward trend, with the lowest point near midnight reaching around 86,128. The second Bitcoin followed the same pattern, with the price rising from the early low of 2,942 to the evening high of 3,030, then facing resistance, and finally hitting a low of around 2,832 during midnight. Changsheng's real trading layout of 4 long positions and 1 short position on Bitcoin secured over 4,667 points of profit! Ethereum's layout also achieved over 143 points of profit!

The current market is under pressure and retreating, with bearish momentum continuously releasing, showing a strong downward trend. On the four-hour chart, the candlesticks show an extremely long upper shadow, with the price falling from the upper Bollinger Band to below the middle band, indicating significant resistance above and obvious price pressure; the three Bollinger Bands are diverging downward, with bearish strength continuously increasing. On the hourly chart, the bearish candlestick pattern is fierce, with the price repeatedly facing downward pressure, showing a weak downward trend overall; the MACD indicator is about to form another death cross, further reinforcing the continuation of the bearish trend. Bearish sentiment is spreading in the market, and the downward trend has become increasingly evident.

Follow Gong Zhonghao: Changsheng looks at the trend

Trading suggestions:
Bitcoin: around 87,500, target 85,000

Ethereum: around 2,930, target 2,700

$BTC $ETH