Monday Morning Bitcoin Technical Analysis - Latest Perspective:



One day in crypto equals ten years in the real world. Those who can endure the lows are worthy of the peaks. This morning, BTC touched a high of 68474 before pulling back to a low of 67445. ETH reached a high of 2074 this morning before retracing to a low of 2034.

From the 4-hour timeframe perspective, the price has effectively broken below multiple short-term moving averages, with the moving average system displaying a clear bearish alignment pattern. Upper moving averages form layers of resistance. In terms of price action, higher highs are continuously declining and lower lows are constantly refreshing, forming a standard descending channel. Rebound strength remains consistently weak, currently leaning more toward technical bounce-back after oversold conditions rather than a trend reversal signal.

Today's Trading Recommendations:
- BTC: Short around 68500, Target 67000
- ETH: Short around 2090, Target 2000
#Gate13周年全球庆典
BTC-1.58%
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