Good evening everyone, I am Xin Ya. Good afternoon everyone, I am Xin Ya.

Let's briefly review the market trends over the past week. After Bitcoin surged to 90,500 on Monday, it faced continuous pressure, with the K-line forming a central zone around the converging hourly EMA lines. It can be seen that the overall movement is oscillating around the center of 87,800, and the upper and lower ranges are within the previous range. The hourly EMA 120 and 144 are around 87,800, while the hourly EMA 7 and EMA 30 are around 87,500.

Looking at the four-hour chart, Bitcoin's EMA 120 and 144 are around 88,800, and the moving averages are still pulling down. This level has been tested multiple times as resistance, while the four-hour EMA 7 and EMA 30 are still between 87,500 and 87,800. Today's daytime consolidation was extremely narrow, with an amplitude of only six hundred points. This kind of movement often leads to a direction change from the end of the month to the beginning of the month. Currently, the hourly Bollinger Bands have narrowed, the middle band is struggling to find support, the KDJ has formed a death cross, the four-hour MACD is dominated by bears, and the hourly bulls are also weak, with the fifteen-minute chart giving early warnings, all pointing to a weakening of bullish buying.

Due to the repeated pressure this month, bears hold the dominant advantage, and the pattern and structure do not have the energy to build up. Currently, there are no conditions for a rally, and in the short term, forex and precious metals are attracting large funds. At this position, the market needs to trigger a round of decline to attract protective buying forces. Therefore, the closest movement is likely to oscillate downwards around 87,500. Those trying to catch a rebound at 86,800 are likely to get liquidated easily.

So we can enter a short position at 87,800, with a replenishment range left at 88,450-88,750, and a stop loss set at 98,450. First, we look towards 85,800, and if it breaks, we look at 83,800. Below, we can see that conservatively, we can enter the second range, but the market may find it hard to provide opportunities.

Ethereum's movement is completely driven by Bitcoin, with an extremely narrow intraday amplitude, with the upper and lower ranges only about twenty points. We can completely synchronize with Bitcoin, shorting at the current price of 2,930, replenishing at 2,968, and setting a stop loss at 2,972. Due to the extremely narrow consolidation, we first look at 2,880.

The short-term consolidation of Bitcoin can oscillate back and forth around 86,500-87,500, primarily focusing on short positions, cautiously trying to catch rebounds. Ethereum has seen multiple buying supports at 2,900, but the movement is not good, so after breaking down, it is easy to see a fluctuation down to around 2,860, so be cautious when trying to rebound.

For further insights, consider following the public account: Xin Ya Lun Chan.

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