Daily timeframe currently presents a four-consecutive bearish candle pattern, with the price center of gravity continuing to shift downward, overall trading below the Bollinger Band middle band, and the bearish structure not yet reversed. From a single candlestick structure perspective, the body is relatively small, showing bulls and bears forming some resistance at low levels, but the upper shadow is notably elongated, reflecting strong selling pressure encountered during rallies, with upper resistance being effective. Regarding Bollinger Band formation, the upper band has turned downward, forming a convergence with the middle and lower bands followed by another divergence, further reinforcing the current weak market characteristics. Comprehensively, the near-term trend is still dominated by bears, with price repeatedly testing low support under mid-band pressure. If it cannot reestablish and stabilize above the middle band thereafter, the market may continue weak consolidation or further downside exploration. Operationally, maintain caution and respond with a trend-following approach after rally rejection, paying key attention to the receiving strength in the lower band region and whether a bottom formation confirmation signal can be established.
BTC breaks down at larger timeframes; if 70800 is not broken, then watch 68700-68000. Long positions await pullback to this zone for entry; after breaking 70800, look for rallies with resistance at 71500.
ETH if 2160 is not broken watch 2100; if broken downside check 2050-2020. Long positions await this zone; if 2150 is broken rallies will continue higher, with resistance at 2230-2250.#Gate13周年全球庆典 #TradFi首创多倍杠杆 #加密行情震荡
Daily timeframe currently presents a four-consecutive bearish candle pattern, with the price center of gravity continuing to shift downward, overall trading below the Bollinger Band middle band, and the bearish structure not yet reversed. From a single candlestick structure perspective, the body is relatively small, showing bulls and bears forming some resistance at low levels, but the upper shadow is notably elongated, reflecting strong selling pressure encountered during rallies, with upper resistance being effective. Regarding Bollinger Band formation, the upper band has turned downward, forming a convergence with the middle and lower bands followed by another divergence, further reinforcing the current weak market characteristics. Comprehensively, the near-term trend is still dominated by bears, with price repeatedly testing low support under mid-band pressure. If it cannot reestablish and stabilize above the middle band thereafter, the market may continue weak consolidation or further downside exploration. Operationally, maintain caution and respond with a trend-following approach after rally rejection, paying key attention to the receiving strength in the lower band region and whether a bottom formation confirmation signal can be established.
BTC breaks down at larger timeframes; if 70800 is not broken, then watch 68700-68000. Long positions await pullback to this zone for entry; after breaking 70800, look for rallies with resistance at 71500.
ETH if 2160 is not broken watch 2100; if broken downside check 2050-2020. Long positions await this zone; if 2150 is broken rallies will continue higher, with resistance at 2230-2250.#Gate13周年全球庆典 #TradFi首创多倍杠杆 #加密行情震荡