Mu Feng Looks at Trends: 2.1 Bitcoin/Ethereum Evening Market Analysis. Act steadily in accordance with the trend; against the trend, one can only say to test with a light position.
This month's monthly line updates show that KDJ and MACD death cross continue to decline, with prices in BOLL basically stabilizing below the middle track, and the entire track oscillating downwards; in the main chart, the MA5 has dropped significantly and is suppressing, while the MA30-day average's upward momentum continues to weaken. It can be seen that the market's selling pressure sentiment is increasing, but there is a gap between the monthly line price and the five-day moving average, suggesting that there will still be a technical rebound to adjust sentiment within the month.
Today, at the daily level, KDJ and MACD continue to show declining volume, while the lower track of BOLL is opening wide like a 'waterfall', indicating how strong the bears are; in the main chart, the MA three-day averages are still maintaining a strong bearish arrangement. However, there is a significant gap between Ethereum and the five-day moving average in the short term. Considering that there was a further significant decline yesterday, there is still a probability of gap repair today. However, it will not completely touch the MA5-day moving average. Everyone still needs to act rationally and go long, as the trend and market sentiment are both directed towards bearishness. Act steadily in accordance with the trend; against the trend, one can only say to test with a light position.
Regarding the short-term evening, I personally believe there will be a slight technical rebound sentiment. The strength is estimated to not be too strong. Pay attention that after the short-term rebound ends and the rebound strength is not as strong, it will continue to decline with increased volume. For the evening, let's see it here for now, and we will discuss further after the weekly update.
The above is my personal evening market analysis, for everyone's reference only.
