Looking at the overall market structure, price has effectively broken below the daily Bollinger Band midline support. Bearish momentum has been released aggressively, opening the door for an accelerated move lower.

A classic three-consecutive-red-candle bearish pattern has now fully formed, with sellers firmly in control. The short-term downtrend remains smooth, with no clear support in sight as price continues to push lower and set fresh recent lows.

From a higher-timeframe perspective, the broader bearish trend remains well established. Although price saw a brief technical rebound after breaking below the previous low range, that rebound is gradually losing momentum and upside progress has stalled. The probability of another move down to retest the lows is rising significantly.

The trading approach remains trend-following: focus on short opportunities, and scale into positions when price rebounds into key resistance zones.

Midnight Trading Reference

BTC: If price rebounds into the 60,000–60,500 resistance zone, consider scaling into short positions. First target: 58,000. Next support to watch: 57,000.

ETH: If price reaches the 1,600 resistance level, consider opening a short position. Primary target: 1,500.

For educational purposes only—not financial advice. Manage risk and use appropriate position sizing.
$HYPE ‌