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The technical structure is clearly bearish: both the four-hour and daily moving averages are in a bearish alignment, MACD shows a dead cross with increasing volume, and RSI is in the weak zone. The 83,500-84,000 USD region for Bitcoin has turned into a strong resistance, with Ethereum resistance at 2750-2780 USD. If a rebound reaches this level and faces resistance and falls back, it will confirm the continuation of the downtrend.
Maintain a bearish outlook in operations, focusing on the performance around the above resistance zones. Resistance during a rebound can be seen as an opportunity to short at higher levels. The first support levels below are Bitcoin at 81,000 USD and Ethereum at 2673 USD. A break below these levels will open further downside space. Be sure to implement risk control and strictly set stop-losses.
Pay close attention to tonight’s interest rate changes and the Federal Reserve Chair’s meeting!