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1.8 Thursday Bitcoin and Ethereum Evening Analysis
In the four-hour analysis, three consecutive bearish candles tested the lower Bollinger Band, indicating a short-term halt in decline. However, the rebound momentum is clearly weak, and the bullish counterattack is feeble. The Bollinger Bands are expanding downward, with the lower band continuing to decline. The resonance support formed by the 90000 integer level and the lower Bollinger Band has been effectively broken. The pullback after the breakdown failed to return to the key support level. Overall, a weak consolidation pattern is evident, and the downward trend is difficult to reverse. It is recommended to continue adopting a bearish strategy based on the trend.
Look for short positions around 90000 for Bitcoin towards 88000, and around 3120 for Ethereum towards 3000.
#BTC #ETH #BNB