Follow and watch, and the gains could be enormous. Hello everyone, I am analyst Gu Jingci. I share my views here in the hope that everyone who follows can achieve good returns!
Bitcoin/Ethereum have been consistently setting up and increasing short positions in recent days, including entering shorts again above 80,200 and 2,520 last night, with several dips near 79,000 and 2,475. The market is currently in a narrow consolidation. Tonight, watch for any significant volatility in the crypto market resulting from Walsh's speech and the US stock market. If the current sideways movement continues, a large price swing can be expected after the consolidation phase. Recent daily charts show two previous strong bullish candles with huge volume, followed by high-level consolidation and long upper wicks, indicating heavy selling pressure above, weakening bullish momentum, and suggesting the market could be entering a retracement or consolidation phase. Today, a bearish candle is forming, further confirming signs of a short-term pullback.
The latest 4-hour candlestick is a small bearish candle with significantly shrinking volume, indicating the market lacks clear direction in the short term, with bulls and bears balanced, but bears having a slight advantage. Technical indicators: Both the DIF and DEA lines are above the zero axis, but the DIF line has crossed below the DEA line. The MACD histogram is green and continues to expand, forming a death cross. This suggests that 4-hour momentum to the upside is weakening, and a short-term retracement or downward trend might be beginning. Monitor the short-term support at 77,500 and 2,430; a break below these levels could trigger further downside.
Evening strategy: Short Bitcoin near 79,500 to 80,000 with a target around 78,000; short Ethereum near 2,500 to 2,520 with a target around 2,400 to 2,440.
