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12.4 Latest BTC/ETH Market Analysis
Recently, BTC/ETH have rebounded in the short term (BTC broke through 9400, ETH stood above 3200), but the overall bearish trend remains unchanged—
- BTC weekly chart: After a large bearish candle, there were small bullish candles, but all indicators still point to bearishness; the daily chart turned bearish after multiple bullish days broke the middle band, and the Bollinger Bands maintain a downward channel.
- ETH moves in sync: short-term upward movement but momentum is fading.
At the same time, the market's short-term upward momentum has significantly weakened: BTC faces concentrated selling pressure at the 94100 resistance level, the 4-hour MACD is flattening at high levels, red bars are shrinking, buying is exhausted, and the need for a correction is increasing.
Afternoon trading recommendations
- BTC: Consider shorting around 94000-94500, target 91500, 90000
- ETH: Consider shorting around 3230-3260, target 3160, 3100, 3020
Please strictly set your stop-loss.