In the early hours of today, after the Ethereum price rose to around 4960, it began to decline. Currently, the price has just touched the upper resistance level near 4900 and is showing a downward pressure. This also indicates that the market makers bought in around 4100, with the profit-taking point being near 4900. As for the decline during the early hours, it was due to the absence of new market makers or institutions stepping in, and the market also perceived the price to be high, leading to a natural downward trend.
Looking at the daily technical indicators, the KDJ indicator shows all three lines at a high value of 80, while the MACD indicator shows signs of a continuous decrease in bullish momentum. Additionally, Ethereum has already produced a green TD9 signal. In comparison, Bitcoin's performance appears weaker relative to Ethereum, as it has broken below both the five-day and ten-day moving averages. The KDJ and MACD indicators for Bitcoin are showing a death cross and a resonating downward trend. From the perspective of Bitcoin, large holders and institutions have begun to sell off their positions at high levels, and the strength of the decline will need to be assessed based on support levels.
Currently, the daily technical indicators for Bitcoin, including KDJ, MACD, and BOLL, are generating a very strong bearish resonance. The three-day moving averages are also in a bearish arrangement and declining. At present, Bitcoin's price has dropped below the five-day moving average, and it is highly likely that it will continue to experience fluctuations and decline today.
Ethereum: Short in batches around the 4555-4585 range. Stop loss: 4647. Target: 4460-4400.
The above is my personal analysis of the evening market and operational thoughts. Specific points and directional changes are subject to real-time guidance.
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