The difference in the weekly level is not significant. After rebounding to 28142, it retraced back to the narrow range. The monthly chart just formed a bearish "three black crows" pattern at the opening of September, which is very weak. It is similar to the weekly pattern at the end of February and early March. If there is no strong reversal, there is a high probability of a downward oscillation. Last week saw increased volume, with the MACD continuing below the zero line and the OBV indicator showing continuous outflow.

Daily Chart

The daily chart rebounded to the MA200 resistance, where the pressure is relatively high. If the rebound cannot break through 28142 and 28600, there is a chance of oscillating downward before considering a rebound. The 4-hour chart still shows oscillation.

Ethereum

The situation for Ethereum is worse than that of Bitcoin. Despite the similar increase in the first half of the year, it has not rebounded beyond the first large bearish candle in the bear market. The monthly chart has been rebounding for half a year, with the MACD consistently below the zero line and the KDJ crossing again.

Weekly Chart

It is at the support of the "M" head and shoulders pattern, with a high probability of breaking through. The indicators are consistently bearish. Even if there is a short-term rebound, failure to reclaim the 1850 level still poses a risk. The daily chart has fallen to the previous support level where the "pit" was dug before. There seems to be a new "pit" being dug upwards, and short-term oscillation will continue.

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