Moving average system: Short-term trend - MA5 at 90729, MA10 at 90679, both above price with downward turning formation, creating short-term bearish alignment, indicating short-term bullish momentum is exhausted and price is clearly suppressed by moving averages. Medium-term trend: MA30 at 92052 also above price with distance widening from short-term MAs, medium-term trend also leans bearish, price has not shown consolidation or reversal signals yet.
Candle pattern and trend structure: After price rallied to 95064 earlier, a double top formed (second high failed to break previous high), then downtrend began, typical peak reversal pattern. After recent decline to 89283, small positive candles emerged but with weak rebound amplitude and short bodies, constituting weak rebound candles without forming reversal patterns like bullish engulfing, indicating support below is only temporary and insufficient reversal signals.
Overall trend is in descending channel with price running along lower channel edge, each rebound suppressed by overhead resistance, bears dominating market rhythm.
Trading suggestions: Bitcoin: Short 90700-91200, target near 89000 Ethereum: Short 3120-3170, target near 3000
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BTC 4-hour technical analysis, moving averages, candle patterns, volume and indicators:
Core technical analysis:
Moving average system: Short-term trend - MA5 at 90729, MA10 at 90679, both above price with downward turning formation, creating short-term bearish alignment, indicating short-term bullish momentum is exhausted and price is clearly suppressed by moving averages. Medium-term trend: MA30 at 92052 also above price with distance widening from short-term MAs, medium-term trend also leans bearish, price has not shown consolidation or reversal signals yet.
Candle pattern and trend structure: After price rallied to 95064 earlier, a double top formed (second high failed to break previous high), then downtrend began, typical peak reversal pattern. After recent decline to 89283, small positive candles emerged but with weak rebound amplitude and short bodies, constituting weak rebound candles without forming reversal patterns like bullish engulfing, indicating support below is only temporary and insufficient reversal signals.
Overall trend is in descending channel with price running along lower channel edge, each rebound suppressed by overhead resistance, bears dominating market rhythm.
Trading suggestions:
Bitcoin: Short 90700-91200, target near 89000
Ethereum: Short 3120-3170, target near 3000