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Bitcoin overall shows a volatile downward trend, starting a correction from the high point of around 82,215 early this morning. During the oscillation downward process, it gradually broke through short-term support, with the lowest dip reaching the 80,840 area.
Ethereum's movement is highly correlated with Bitcoin, starting its downward trend from the high of 2,365 and dropping to the low of 2,330, showing a consistent weak follow-through, highlighting the market's linkage.
On the daily chart, the upward channel faces a severe test. After touching the key resistance zone of 82,000-82,500, it failed to break through effectively, instead triggering technical selling pressure, causing the short-term trend to shift from bullish to bearish.
Bearish momentum begins to accelerate, leading to a reversal in moving averages, with the EMA50 dynamic support weakening. The RSI indicator quickly drops from the overbought zone, signaling that the short-term trend has clearly turned to a bearish dominance, with this downward trend showing strong continuation potential and structural destructiveness.
The four-hour chart continues to show a weak correction pattern, with prices remaining under pressure below the channel's lower boundary, exhibiting technical features of a one-sided weak decline, further solidifying the daily bearish trend foundation.
Currently, the market rhythm indicates that the bearish force is still strengthening. The short-term rebounds are not trend reversals but typical trap-and-sell moves, mainly aimed at accumulating energy for further declines.
Today’s early operations should focus on rebounding to lay out short positions as the core strategy.
Specific trading suggestions: Watch the resistance at the 81,800-82,500 zone and the two levels at 83,300 and 84,500. If these resistances hold, consider going long with a target of 500-6000 points lower.
#Gate广场五月交易分享