Climbing to the top is certainly exhilarating, but the true value lies in the insights gained along the way and the mindset refined through the process.
This is the current market feeling—repeatedly testing lows, with decreasing volatility and the price gradually drifting downward. On the daily chart, multiple attempts by the bulls to push higher have failed, indicating waning momentum. The technical indicators are even clearer: the Bollinger Bands are starting to open downward, and all moving averages across different timeframes are arranged in a bearish alignment, with resistance lines steadily moving lower. In this situation, unless there is a clear breakout upward, the probability of the price continuing to decline within the consolidation range is high, as the bears are quietly gathering strength.
If key resistance levels cannot be maintained in the short term, testing support levels downward becomes a highly probable event. Overall, a cautious and bearish outlook should be adopted.
**Trading References:** - Bitcoin: Short around 88,000, target 85,000 - Ethereum: Short around 2,970, target 2,700
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CountdownToBroke
· 6h ago
The Bollinger Bands opening downward this wave, really can't hold on anymore. The bulls' multiple attempts to push up have no strength. My short position at 88,000 is still lying there.
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GasFeeSurvivor
· 6h ago
The Bollinger Bands opening downward sounds intense, but the real test is still ahead.
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ReverseTradingGuru
· 6h ago
The Bollinger Bands are opening downward. This wave really feels like the air is solidifying. Should we take a gamble and short at 88,000?
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WalletDoomsDay
· 6h ago
The idea of Bollinger Bands opening downward, I feel a bit familiar with it. The last time I heard this, it seemed to be reversed.
Climbing to the top is certainly exhilarating, but the true value lies in the insights gained along the way and the mindset refined through the process.
This is the current market feeling—repeatedly testing lows, with decreasing volatility and the price gradually drifting downward. On the daily chart, multiple attempts by the bulls to push higher have failed, indicating waning momentum. The technical indicators are even clearer: the Bollinger Bands are starting to open downward, and all moving averages across different timeframes are arranged in a bearish alignment, with resistance lines steadily moving lower. In this situation, unless there is a clear breakout upward, the probability of the price continuing to decline within the consolidation range is high, as the bears are quietly gathering strength.
If key resistance levels cannot be maintained in the short term, testing support levels downward becomes a highly probable event. Overall, a cautious and bearish outlook should be adopted.
**Trading References:**
- Bitcoin: Short around 88,000, target 85,000
- Ethereum: Short around 2,970, target 2,700