Wednesday Afternoon Bitcoin Thinks



Intraday Range: 2,256–2,314, overall linked to Bitcoin but weaker than Bitcoin, rebound is weak, lack of independent trend. Market features: shrinking volume with downward decline, weak follow-through; yesterday closed lower, several days of sideways trading between 2,250–2,400, repeatedly failed to break above 2,400, obvious high-level stagnation, short-term moving averages in a bearish alignment.

From the daily chart perspective, small volume decline with a slight downward oscillation, 4-hour Bollinger Bands opening downward, price moving along the lower band, bearish dominance; multiple dips below 2,250 followed by slight rebounds, indicating technical correction needs.

Key Support/Resistance
Support: 2,250→2,220→2,180.
Resistance: 2,310→2,350→2,400

Trading Suggestions
ETH rebounds to 2,310–2,350 to short, stop loss at 2,400, target 2,250–2,220.
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