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4.7 Tuesday midday market analysis
Bitcoin's four-hour chart broke resistance and then pulled back under pressure, confirming a short-term bearish trend. The price is approaching the middle band of the Bollinger Bands. Once it breaks below that level, it will trigger market panic and open up full downside potential!
The one-hour chart continues to trade weakly near the lower band. The slight rebound does not change the downward pattern, and the rebound strength is extremely weak. All rebounds are just traps for more selling! The final 48-hour ultimatum will be announced tonight. The chances of US-Iran negotiations are low. Yesterday, Trump made reckless statements about destroying all bridges and power plants in Iran. The daily chart pattern is exactly the same as last week. Consider short positions at high levels!
BTC trading suggestion: Short around 69,000, take profit at 68,500-66,800, stop loss above 70k
ETH trading suggestion: Short around 2,120, take profit at 2,070-2,040, stop loss above 2,150