The overall afternoon market still remains predominantly bearish. Big Bread briefly dipped to around 76,300 after the afternoon, stopping its decline and rebounding. The high point of the second rebound also did not manage to retest above 77,000. It is now adjusting again around 76,500 and consolidating with a range-bound chop. Right now, the bears’ dominance is demonstrated very clearly. As for Ethereum, its movement is basically consistent with Big Bread: the pullback has not dropped below yesterday’s probing low. It is still in range-bound consolidation, but intraday rebounds have not shown any strong bullish recovery. So for the next leg, we still await a breakout signal. In terms of live trading, we synchronized and streamed in the morning and planned the short positions as well; then in the afternoon, they were exited with profits. Big Bread captured 800 points of space, and Ethereum captured 30 points.

Judging from the current market, the 4-hour chart continues the shape of weak trend-following bottoming and is moving lower. The price is currently probing downward, with the momentum near the 76,000 area and indicators showing no obvious signs of a turn or oversold conditions. Overall, there should still be further room for downside adjustment. On the 4-hour chart, there is another retest: the Bollinger Bands are in the “opening” stage, which means the downtrend channel is being opened. With that, the bears’ continuation can still be expected. They are probing for support at the 120-day moving average structure. At present, the market is in a phase of probing lower; bottom-fishing and chasing higher prices is still not easy. In the afternoon, following our thinking, for those who entered short positions on the rebound, you can still hold patiently. Keep an eye on the continuation after the break of the lower 76,000 support.

Big Bread can be shorted at 76,500~77,000, looking to around 75,000. Ethereum can be shorted at 2280-2300, looking to 2250-2200.#加密市场小幅下跌 $BTC $ETH