Since yesterday, the overall market has maintained a downward oscillation trend. After multiple failed attempts to rally, it ultimately chose to break downward, with the bearish sentiment dominating.
From the current market view, the 4-hour chart shows that the price has effectively broken below the 90700-90000 support zone, which has now turned into a short-term strong resistance. The hourly chart displays consecutive long upper shadow candles, and the MACD indicator has formed a death cross above the zero line. The RSI indicator continues to stay below the neutral level of 50, indicating that bearish momentum is gradually accumulating and the rebound strength is clearly insufficient. Based on the technical indicators and price patterns, the market currently shows a clear bearish bias. If the price cannot effectively break through the resistance zone above, it may further decline towards the 89000 level. Therefore, the current strategy is to remain cautious and consider shorting on rebounds.
For Bitcoin, expect resistance around 90700-91500, with support at 89300-88300. For Ethereum, expect resistance around 3140-3180, with support at 3050-2980.
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Since yesterday, the overall market has maintained a downward oscillation trend. After multiple failed attempts to rally, it ultimately chose to break downward, with the bearish sentiment dominating.
From the current market view, the 4-hour chart shows that the price has effectively broken below the 90700-90000 support zone, which has now turned into a short-term strong resistance. The hourly chart displays consecutive long upper shadow candles, and the MACD indicator has formed a death cross above the zero line. The RSI indicator continues to stay below the neutral level of 50, indicating that bearish momentum is gradually accumulating and the rebound strength is clearly insufficient. Based on the technical indicators and price patterns, the market currently shows a clear bearish bias. If the price cannot effectively break through the resistance zone above, it may further decline towards the 89000 level. Therefore, the current strategy is to remain cautious and consider shorting on rebounds.
For Bitcoin, expect resistance around 90700-91500, with support at 89300-88300.
For Ethereum, expect resistance around 3140-3180, with support at 3050-2980.