In the $ETH 4 hours cycle, the price stabilized after hitting the middle band of the Bollinger Bands and then plunged continuously, now grinding down towards the lower band.
Bears are clearly dominant, and the trend is clearly weak. Both the 144 and 169 moving averages have turned down simultaneously, providing significant resistance, and there are no signs of a reversal at the lower band, making the possibility of the downward channel continuing quite high.
What’s most heartbreaking is the lack of buying strength during the dips.
There has been continuous selling below 3100, and during the rebounds, institutional funds have not jumped in to join the excitement. This bearish market seems to have further momentum.
Consider shorting in the 3200-3250 range, targeting the key points of 3100 and 3050.
Continuously pay attention to: $ICNT $FOLKS
#加密市场观察 #美联储FOMC会议 #加密市场反弹 #美联储降息
Bears are clearly dominant, and the trend is clearly weak. Both the 144 and 169 moving averages have turned down simultaneously, providing significant resistance, and there are no signs of a reversal at the lower band, making the possibility of the downward channel continuing quite high.
What’s most heartbreaking is the lack of buying strength during the dips.
There has been continuous selling below 3100, and during the rebounds, institutional funds have not jumped in to join the excitement. This bearish market seems to have further momentum.
Consider shorting in the 3200-3250 range, targeting the key points of 3100 and 3050.
Continuously pay attention to: $ICNT $FOLKS
#加密市场观察 #美联储FOMC会议 #加密市场反弹 #美联储降息