Bitcoin is generally trending downward amid volatility. After peaking near 85,520 in the early hours today, it began to retreat. During its volatile decline, it broke through the 85,000 psychological level and the short-term bullish defense level at 84,200 in succession, as concentrated selling pressure from bears was released. It hit a low near 82,780 and is currently trading around 83,503. Ethereum has been highly correlated with Bitcoin, also beginning to fall from a high of 2,765 and touching a low near 2,672. It has remained weak and followed Bitcoin lower throughout, highlighting the strong correlation between the two markets.
The daily downtrend channel continues to widen in an orderly fashion. After a short-term weak rebound and a fully formed bull trap at the top, the market has officially shifted to a steady, volatile downward trend. Bearish momentum is being released gradually alongside rising trading volume, bringing the short-, medium-, and long-term moving averages into a synchronized bearish alignment. This structure indicates that bears have clearly regained control of the trend, which also appears relatively persistent and structurally solid. The four-hour chart continues to show a one-way, weak downtrend, with prices steadily falling below the channel’s middle line. The MACD green histogram bars continue to expand, while the downward slope of the TRIX trend indicator has yet to flatten. These are typical bearish technical signals, further reinforcing the basis for the daily downtrend. Current price and volume action indicates that bearish forces are still building. The minor rebounds along the way do not signal a trend reversal; rather, they are standard technical corrective moves that may lure in buyers. Their main purpose is to shake out weak positions through choppy trading and build momentum for a further decline. For today’s intraday trading, the core strategy remains to look for opportunities to open short positions on rebounds.
Specific trading recommendations: Watch for resistance in the 83,600–84,300 range, as well as near the minor resistance levels at 85,400 and 86,300. If the price reaches these levels and fails to break through, consider opening short positions, targeting a move of 500–6,000 points lower.
The daily downtrend channel continues to widen in an orderly fashion. After a short-term weak rebound and a fully formed bull trap at the top, the market has officially shifted to a steady, volatile downward trend. Bearish momentum is being released gradually alongside rising trading volume, bringing the short-, medium-, and long-term moving averages into a synchronized bearish alignment. This structure indicates that bears have clearly regained control of the trend, which also appears relatively persistent and structurally solid. The four-hour chart continues to show a one-way, weak downtrend, with prices steadily falling below the channel’s middle line. The MACD green histogram bars continue to expand, while the downward slope of the TRIX trend indicator has yet to flatten. These are typical bearish technical signals, further reinforcing the basis for the daily downtrend. Current price and volume action indicates that bearish forces are still building. The minor rebounds along the way do not signal a trend reversal; rather, they are standard technical corrective moves that may lure in buyers. Their main purpose is to shake out weak positions through choppy trading and build momentum for a further decline. For today’s intraday trading, the core strategy remains to look for opportunities to open short positions on rebounds.
Specific trading recommendations: Watch for resistance in the 83,600–84,300 range, as well as near the minor resistance levels at 85,400 and 86,300. If the price reaches these levels and fails to break through, consider opening short positions, targeting a move of 500–6,000 points lower.