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After BTC/ETH surged quickly and then pulled back in the previous session, both have basically maintained narrow-range fluctuations over the past two days, especially with ETH showing a relatively weaker trend overall. This current pattern of BTC being relatively strong and ETH remaining weak is also a sign that the market is preparing for a trend reversal, and it's very likely to continue declining. On the 4-hour chart, recent candlesticks are showing a fluctuating downward trend, with both highs and lows dropping. After the previous sharp drop with high volume, the price has been consolidating at a low level, with insufficient bullish rebound momentum. The latest candlestick is a small bullish candle, but trading volume has shrunk. The daily chart has closed bearish candles for two consecutive days, both accompanied by significant trading volume, indicating strong bearish power. Although the current candlestick is a small bullish candle, the trading volume is notably lower than the previous two days, suggesting the rebound momentum is weak.
Regarding technical indicators, both the DIF and DEA lines are running below the zero axis, with the DIF line below the DEA line. The MACD histogram is negative, indicating an overall bearish market. The MACD histogram's negative value has narrowed, showing that short-term downward momentum is weakening somewhat, but it hasn't yet reversed to bullish. The previous two trading days saw declines with high trading volume, confirming the validity of the downward trend. The rebound's trading volume has dropped significantly, indicating that the current rebound strength is limited. Also, looking at the daily moving average (MA) indicators, there is still pressure from the indicator lines around 78,500 for BTC and 2,420 to 2,440 for ETH. Shorts can be added on rebounds.
Trading advice: For BTC, continue to go short around 77,800 to 78,300, targeting near 76,300; for ETH, continue to go short around 2,410 to 2,430, targeting near 2,360. If it breaks below, you can continue to look lower.
