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Monday Morning Bitcoin Technical Analysis Latest Insights:
In crypto, one day equals ten years in the real world. Those who can endure the lows are worthy of the peaks. This morning Bitcoin touched a high of 68474 before pulling back to a low of 67445. Ethereum reached a morning high of 2074 before falling to a morning low of 2034.
From the 4-hour timeframe perspective, the price has effectively broken through multiple short-term moving averages, with the moving average system showing a clear bearish alignment pattern, with upper moving averages forming layered resistance. In terms of price action, highs continue to move lower and lows keep refreshing, forming a standard descending channel. Rally strength remains weak throughout, currently leaning more towards a technical retracement following oversold conditions, rather than a trend reversal signal.
Today's Trading Suggestions: Bitcoin short around 68500, target 67000
Ethereum short around 2090, target 2000
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