8.3 Sunday Morning Bitcoin Ethereum Market Analysis and Trading Suggestions

The cryptocurrency market may experience extreme fluctuations, but each experience of being trapped is a badge of recognition. By bravely reviewing and summarizing, you will find that those pullbacks you once thought you couldn't get through will become the compass for the next buying opportunity. Looking back at the midnight market trends, the market continued its bearish trend and kept diving, with Bitcoin touching a low of 111974 before gaining support, followed by a technical rebound to around 113025. However, the rebound was limited, and the price came under pressure again. Ether also followed the downward trend, dipping to a low of 3374 before entering a narrow range of consolidation. We accurately predicted this bearish market during the early morning hours, and our trading strategy was perfectly validated.
From the technical trends at various levels in the current market, the bearish forces are clearly dominant, showing a strong suppression trend. On the daily level, prices continue to operate below the middle band of the Bollinger Bands, and after the MACD indicator's death cross, it continues to diverge downward, with the green momentum bars continuously expanding, indicating that the bearish momentum is accelerating. The 4-hour level presents a perfect descending channel formation, where every rebound faces strong resistance from the upper moving average system. The trading volume has significantly increased during the decline, further validating the pattern of bearish control. This imbalance in the comparison of long and short forces makes any rebound appear powerless, ultimately creating new shorting opportunities. In terms of operational strategy, it is recommended that investors maintain a trend-following mindset and focus on shorting opportunities during rebounds.
Short special: can short near 112800-113200, short-term target 111000
Ethereum: Short position can be taken around 3420-3440, with a short-term target of 3350.