In the four-hour timeframe, the price repeatedly encounters resistance at the middle band of the Bollinger Bands and pulls back. The rebound is only a technical correction, and the overall downtrend continues. The three Bollinger Bands are narrowing downward simultaneously, indicating a shrinking trading range. The bearish pressure continues to build, and the downward trend remains unchanged. The one-hour chart further confirms the stability of the bearish structure: after a brief rebound, the price quickly breaks below the middle Bollinger Band, which continues to move downward, forming a continuous resistance to rebounds. The KDJ indicator briefly recovers but then forms a death cross again, indicating weak rebounds and further release of bearish momentum.
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Wednesday morning BTC/ETH analysis on the 2.4th
In the four-hour timeframe, the price repeatedly encounters resistance at the middle band of the Bollinger Bands and pulls back. The rebound is only a technical correction, and the overall downtrend continues. The three Bollinger Bands are narrowing downward simultaneously, indicating a shrinking trading range. The bearish pressure continues to build, and the downward trend remains unchanged. The one-hour chart further confirms the stability of the bearish structure: after a brief rebound, the price quickly breaks below the middle Bollinger Band, which continues to move downward, forming a continuous resistance to rebounds. The KDJ indicator briefly recovers but then forms a death cross again, indicating weak rebounds and further release of bearish momentum.
Trading suggestions:
Bitcoin (BTC) range 76,200-76,700, target 74,000
Ethereum (ETH) range 2,260-2,280, target 2,120
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