Today in the early morning, Bitcoin fluctuated narrowly between 63,000 and 64,150, with the bulls repeatedly testing higher levels but failing to break through. The oscillation center slowly moved downward, and in the afternoon, prices gradually declined. In the evening, a large bearish candle directly broke through the lower Bollinger Band at 60,423, a key support level, causing a short-term intraday low of 60,300 and forming a breakdown and plunge pattern. Ethereum, following Bitcoin in the morning, faced resistance near the Bollinger upper band at 1,787, with prices slowly declining from the high of 1,790. By evening, it broke down sharply, effectively falling below the key support at 1,648, accelerating downward, with large volume bearish candles pushing prices lower. In the evening, the market directly broke through the lower Bollinger Band support at 1,590, with a short-term intraday low of 1,585, completely breaking the Bollinger channel and entering an extremely oversold state.
For real trading today, Bitcoin bought in at 63,247, exited at 63,773, gaining 526 points. Shorting at 63,760, exited at 61,921, gaining 1,839 points. Ethereum bought in at 1,773, exited at 1,653, gaining 120 points.
After a deep decline, Bitcoin and Ethereum both showed oversold indicators, with bearish momentum temporarily exhausted, leading to a technical rebound. Ethereum’s current price is 1,580, with short-term support at the 1,578 low; if broken, it could test the 1,550 level. Key resistance above is at 1,622. Bitcoin’s support levels are at the 60,300 and 60,000 integer levels, with resistance at the 61,836 middle band. Both are oscillating at low levels in the short term but are unlikely to break through the key middle band resistance in one go. The rebound is likely to face resistance and fall back, representing a weak correction after a large drop. The overall bearish trend remains unchanged; the recent sharp decline effectively broke below the middle Bollinger Band, and the short-term rebound is just a continuation of the downtrend. After facing resistance, there is still a possibility of further weakening and decline.
Friday night trading plan:
Bitcoin: Buy near 61,200, target: break below 60,000 to see 59,500.
Ethereum: Buy near 1,610, target: 1,500.