Bitcoin (white paper) remains in a range-bound consolidation and adjustment mode. Neither Bitcoin nor Ethereum has exited the momentum of a breakdown; overall, the market is still in a consolidation phase driven by weak trading volume. At the moment, after Bitcoin bottoming out, it is still consolidating around 71,000, while Ethereum is still consolidating around 2,180.

From the current market conditions, the four-hour chart is still forming a choppy downward oscillation structure in high-level consolidation. The pullback has also drawn out some lower wicks, indicating that the current support structure is relatively strong. In terms of the pullback strength, it is still being somewhat resisted. However, after the pullback reached the bottom, the price did not “widen up” to give any further upside probing. It is currently still slipping from under pressure at the 71,000 level. As for indicators: the macd is sticking at a high level, with a risk of a death cross; the kdj three lines’ death cross has already formed. After a period of sideways consolidation, the market is showing a weak corrective exit approach. In the outlook, after accumulating momentum, all you need is to wait patiently for the shorts to build and expand volume. In terms of execution, continue to arrange positions around high shorts.

Bitcoin can be shorted at 71,000-71,500, targeting 70,300-69,300. Ethereum can be shorted at 2,180-2,200, targeting 2,150-2,110. #加密市场小幅下跌 $BTC $ETH