Today's Public Analysis (Bitcoin Wednesday)



I. Overall Bitcoin Trend Today
Short-term bearish sentiment still dominates. The current rebound is merely a temporary adjustment within the downtrend and does not indicate any genuine reversal signal for an upward move.

II. Technical Reasons for Short Positions
• Daily Chart: After falling from high levels, it has continued to weaken, with all moving averages pressing downward. The bearish momentum is still increasing. Rebounds consistently fail to break through key resistance levels, showing no upward driving force.
• 4-Hour Chart: The price is moving within a clear downtrend channel, with prices constantly suppressed by moving averages. Rebounds lack strength and fall back as soon as they hit resistance, more like a trap to lure long positions.
• Volume: Trading volume significantly increases during declines, but during rebounds, volume remains low. There is no follow-through capital, making it difficult for this rebound to last. The bearish trend persists.

Bitcoin: Rebounds from 2170 to 2190 may head lower

First target: around 2140
Second target: 2120 (caution) #Gate正式接入Polymarket $ETH
ETH2.11%
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 1
  • Repost
  • Share
Comment
Add a comment
Add a comment
EmperorYongle|vip
· 9h ago
I don't know what I'm thinking, you don't believe me, dear, dear, you know where I am, I don't dare show you all, he sent a message.
View OriginalReply0
  • Pin