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Please follow the official account Gu Jingci a, focusing on mainstream currency guidance and layout. Bitcoin/Ethereum surged again early in the morning before retreating. The high point did not break through and started to fall back. The daily line has also reached the upper band of the Bollinger Bands and is beginning to retreat. Once the retreat trend is confirmed, a downward trend will commence in the coming trading days. The 4-hour chart shows that after a strong rise last night, there appeared a long bearish candle with an upper shadow in the early session, forming a bearish engulfing or dark cloud cover pattern, indicating strong short-term selling pressure. The recent K-line showed a small bullish candle with a small body, indicating market hesitation after a significant drop, with bulls and bears temporarily balanced.
In terms of technical indicators on the 4-hour chart, the DIF line has crossed below the DEA line to form a death cross, and the MACD histogram is negative with increasing absolute values, indicating that the short-term momentum is turning bearish and the strength of short positions is increasing. During the early session’s significant drop, there was also a relatively high trading volume, indicating heavy selling pressure. The latest K-line shows a decline in trading volume, consistent with price hesitation.
Operational advice: Sell Bitcoin around 63500 to 63800, targeting 61000 to 62000; Sell Ethereum around 1785 to 1800, targeting near 1720.
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