2.12 BTC/ETH Market Outlook

Thursday's market movement was as expected, with Bitcoin likely to close a four-day losing streak on the weekly chart. The price continues to be under pressure below the Bollinger lower band, and the MACD bearish momentum continues to expand.

On the daily chart, the three Bollinger bands are diverging downward simultaneously. The lower band support is around 60,000, with further downside space below. The three consecutive bearish candles are gradually declining, with rebound highs continuously moving lower, and pullback lows constantly being refreshed. The overall trend is clearly bearish, with bears dominating. The RSI is near 30 in oversold territory and flattening, the KDJ lines are about to cross downward, and the MACD bearish momentum continues to grow.

On the 4-hour chart, yesterday’s rebound was fully resisted by the middle Bollinger band, with the three bands opening downward. The KDJ and RSI are turning downward in sync, and the MACD bearish momentum still exists, indicating a bearish dominance.

On the hourly chart, the rebound remains under pressure from the upper band. It has now broken below the middle band support. The KDJ and RSI are turning downward, and the MACD bullish momentum is shrinking. There are no clear signs of a bottoming out in the market, so it is not recommended to position for low buy-ins.

Trading Recommendations

BTC: Short between 67,500–68,000, target 66,000–65,000
ETH: Short between 1,980–2,000, target 1,880–1,920