Today is the first trading day of the week, and the daily and weekly K-lines have closed. The low point of the daily K-line has moved down for two consecutive days, breaking the key support level of MA30 (26300). The moving averages are in a divergent arrangement, indicating a standard top distribution and downward trend structure. The MACD bullish volume is shrinking, and the two lines have turned downward below the zero axis. The RSI stochastic indicator is at 43, indicating a bearish sentiment in the market. If Hainqin continues our bearish outlook this week, the key support level will be around 25300. Once broken, Hainqin will continue to test the vicinity of 24000.
On the hourly and four-hour K-line charts of Bitcoin, after the price line quickly fell, Hainqin received support from bottom chips, forming a bottoming out, but it can still be seen that on the hourly K-line chart, after the price fell below the lower Bollinger Band line, the price line began to undergo a corrective adjustment. After the adjustment, the price started to further probe downward, and the lower Bollinger Band line continued to open downward. The overall trend has entered a bearish rhythm. In terms of operation, it is feasible to short at the current price or to enter a short position near 26300.
On the hourly K-line chart of Ethereum, it is probing down along the MA14 line, and the highs of the rebounds are being suppressed. However, after overselling, the price has formed a rebound stabilization range, and the candlesticks show a flat bottom indicating a halt to the decline. In the short term, Hainqin's further probing downward will require a round of minor oscillations, rebounds, and corrections. On the four-hour chart, a doji star line has appeared, and the price is gradually returning to above the lower Bollinger Band line. The doji star line's pin bar indicates a bottoming out, and Hainqin has further room for oscillation and adjustment within the day. In terms of operation, it is recommended to continue shorting, and the best shorting points are in the range of 1590-1580. Follow Weibo's "灯塔归途" for more market analysis and insights!
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