12.11 Morning Review, rebound short, mindless short
In the early hours, Bitcoin surged to 94500 but faced resistance and quickly fell back. It has now broken below the rebound high of 90500 and continues to decline step by step. This trend directly reflects the weakening bullish momentum, with heavy selling pressure above.
From a technical perspective, the 4-hour moving averages show signs of a bearish alignment, and the RSI indicator has fallen below the 50 level, indicating the market is entering a weak zone. Coupled with the volume characteristics of shrinking rebounds and increasing declines, the bearish force is steadily strengthening. The previous low support at 91900 has been broken, and the next move is a rebound short, mindless short.
The target for Bitcoin is around 89000, with a long-term target of 86000-78000. The target for Ethereum is around 3190-3000, with a long-term target of 2700-2500.
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12.11 Morning Review, rebound short, mindless short
In the early hours, Bitcoin surged to 94500 but faced resistance and quickly fell back. It has now broken below the rebound high of 90500 and continues to decline step by step. This trend directly reflects the weakening bullish momentum, with heavy selling pressure above.
From a technical perspective, the 4-hour moving averages show signs of a bearish alignment, and the RSI indicator has fallen below the 50 level, indicating the market is entering a weak zone. Coupled with the volume characteristics of shrinking rebounds and increasing declines, the bearish force is steadily strengthening. The previous low support at 91900 has been broken, and the next move is a rebound short, mindless short.
The target for Bitcoin is around 89000, with a long-term target of 86000-78000.
The target for Ethereum is around 3190-3000, with a long-term target of 2700-2500.