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In the afternoon, Bitcoin rebounded to 74500 but faced selling pressure and declined. Evening trading continued with bearish volume expansion and downward movement. The price briefly broke below the intraday consolidation range, currently retesting and breaking through the 73000 level, now oscillating around 72800. Ethereum followed Bitcoin's movement, briefly breaking through the 2300 level and continuing to decline. The afternoon high short strategy was validated, with Bitcoin shorts capturing 1200 points of space and Ethereum shorts capturing 60 points of space.
From the current chart perspective, the 4-hour trend has broken through the midline support, the triangle range has broken down again, and the trend has reversed with the MACD showing a bearish crossover at the top. There remains risk of retracement and further decline in the trend. In the short term, watch the resistance levels from previous consolidation zones at the downside bottom. On the 1-hour chart, short-term retracement has declined to around the 120-day moving average where it's consolidating at key support. After the volume expansion, there's a potential for continued breakdown. The bearish volume expansion on the chart appears strong. Operationally, continue positioning short orders on short-term rebounds.
Bitcoin: Short at 73000-73500, target around 71000. Ethereum: Short at 2270-2300, target around 2200, with potential continuation lower if it breaks 2200 and targets 2150. Key attention on the Fed rate decision announcement early morning #美联储利率决议 $BTC $ETH