The downward channel pattern on the 8-hour level for BTC remains intact, with the middle track at the 100K integer level being lost and becoming strong resistance. The current price is consolidating around 97000, with a daily decline of over 3.5%, and bearish momentum dominates the market. The support at the lower channel track focuses on 94000-95000, and the daily price continues to operate below the long-term key moving averages. The Bollinger Bands are opening downward, and the overall trend remains downward.
The RSI indicator has entered the oversold zone, indicating a short-term technical rebound demand; however, the MACD indicator still maintains bearish momentum and has not shown a clear bullish divergence signal, which may limit the rebound strength.
Operation suggestion: rebound short
BTC rebounded to the range of 98500-99500, target 96500, looking down at 94000. ETH rebounded to the range of 3230-3260, target 3150, looking down at 3050.
If the rebound breaks the 100,000 mark, it proves the strength of the rebound is sufficient, and one can continue to look up to #BTC .
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Friday evening BTC ETH strategy:
The downward channel pattern on the 8-hour level for BTC remains intact, with the middle track at the 100K integer level being lost and becoming strong resistance. The current price is consolidating around 97000, with a daily decline of over 3.5%, and bearish momentum dominates the market. The support at the lower channel track focuses on 94000-95000, and the daily price continues to operate below the long-term key moving averages. The Bollinger Bands are opening downward, and the overall trend remains downward.
The RSI indicator has entered the oversold zone, indicating a short-term technical rebound demand; however, the MACD indicator still maintains bearish momentum and has not shown a clear bullish divergence signal, which may limit the rebound strength.
Operation suggestion: rebound short
BTC rebounded to the range of 98500-99500, target 96500, looking down at 94000.
ETH rebounded to the range of 3230-3260, target 3150, looking down at 3050.
If the rebound breaks the 100,000 mark, it proves the strength of the rebound is sufficient, and one can continue to look up to #BTC .