Wednesday midday Bitcoin and Ethereum market analysis and trading suggestions



After Bitcoin confirmed a break below the key support level of 104,500 last night, the downside potential further opened. Continuous bearish candles indicate a one-sided downward trend, with sufficient bearish momentum; Ethereum also faced pressure and did not develop an independent trend, maintaining a correlated retracement pattern overall.

On the hourly chart, although there are occasional technical rebounds after the sharp decline, the Bollinger Bands remain diverging downward, and the MACD continues to operate below the zero line. Currently, there are no clear signs of volume exhaustion or bullish divergence. The short-term rebounds are mainly due to oversold corrections, but the overall trend remains weak. A corrective rebound is expected, and it is advisable to short after the rebound.

Trading suggestions:
Bitcoin: Short in batches around 103,800-104,300 during the rebound, targeting around 102,000.
Ethereum: Short opportunistically around 3,470-3,500 during the rebound, targeting around 3,350.
Until the trend changes, rebounds are opportunities to enter positions. Pay attention to position management.
BTC0.41%
ETH1.04%
XRP2.62%
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