Market Sentiment:
Chart Structure:
Bitcoin:
The structure of Bitcoin on the 1-hour chart is currently showing the beginning of the third downward movement. The intensity of this downward movement is yet to be seen, but it is highly probable that the decline will not be too deep. At this stage, the main market trend is a time-for-space movement, likely to form a oscillating trend, repeatedly constructing multiple consolidations, and then upgrading to a higher-level consolidation trend. The current market is calm, and it is recommended to observe more and act less, gradually accumulating spot positions.
The structure of Bitcoin on the 15-minute chart shows the formation of a 15-minute consolidation, but the direction chosen is downward, and the departure from the pen is in a non-divergent state. This means that if the rebound does not exceed 25870, it may be a three-sell trend on the 15-minute chart, followed by another 15-minute downward movement, and then see if a bottom divergence trend can be formed on the 15-minute chart.
Ethereum:
The structure of Ethereum on the 1-hour chart is similar to Bitcoin, currently running the third 1-hour downward movement. Similarly, the downward intensity here will not be too great, and the expectation is also a time-for-space movement, followed by the construction of a new 1-hour consolidation trend, and then choosing a direction. Overall, due to the lack of funds, a sideways trend is the most cost-effective.
Trading Strategy:
Invest with caution, this article is not a reference for buying or selling.
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