During the early trading session, Bitcoin rebounded from a low of 89,850 to 90,456 before facing resistance and pulling back, with the overall trend entering a correction phase. Ethereum followed suit, rising to 3,134 before oscillating downward, with a low near 3,078.
From the current structure, the 4-hour timeframe remains in a stair-step upward trend. The price previously touched the upper Bollinger Band but failed to break through effectively, followed by a long bearish candle pulling back toward the middle band, indicating that resistance in the upper band area remains significant. In terms of indicators, the KDJ has formed a death cross, showing that bearish momentum is gradually releasing.
Switching to the hourly chart, the trend shifted from three consecutive bullish candles to five consecutive bearish candles, with a strong break below the middle band support. The hourly KDJ shows a clear death cross pattern, and the MACD is also operating below the zero line, indicating that short-term bearish forces dominate.
Overall, the market shows a short-term correction trend. It is recommended to consider short positions on rebounds and to go short at higher levels.
Trading suggestions: Bitcoin: Watch the 90,000-90,500 resistance zone. If resistance is encountered, consider short positions with a target around 88,000. Ethereum: Suggest a light short position around 3,100, with a target near 3,000.
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During the early trading session, Bitcoin rebounded from a low of 89,850 to 90,456 before facing resistance and pulling back, with the overall trend entering a correction phase. Ethereum followed suit, rising to 3,134 before oscillating downward, with a low near 3,078.
From the current structure, the 4-hour timeframe remains in a stair-step upward trend. The price previously touched the upper Bollinger Band but failed to break through effectively, followed by a long bearish candle pulling back toward the middle band, indicating that resistance in the upper band area remains significant. In terms of indicators, the KDJ has formed a death cross, showing that bearish momentum is gradually releasing.
Switching to the hourly chart, the trend shifted from three consecutive bullish candles to five consecutive bearish candles, with a strong break below the middle band support. The hourly KDJ shows a clear death cross pattern, and the MACD is also operating below the zero line, indicating that short-term bearish forces dominate.
Overall, the market shows a short-term correction trend. It is recommended to consider short positions on rebounds and to go short at higher levels.
Trading suggestions:
Bitcoin: Watch the 90,000-90,500 resistance zone. If resistance is encountered, consider short positions with a target around 88,000.
Ethereum: Suggest a light short position around 3,100, with a target near 3,000.