Wednesday, the 7th evening BTC/ETH Silk Road sharing
Bitcoin has been steadily declining from around 93,700 during the day to 91,500 before finally stabilizing. The current trend remains weak. From the hourly chart, the price has been consistently suppressed within a downtrend channel, and the rebound has not even reached the moving averages, indicating that the bulls currently lack the strength to counterattack. Although there is short-term support below, this is likely just a temporary pause in the decline and does not indicate a trend reversal.
Overall, the market is currently dominated by bears. If the rebound cannot break through the resistance around 92,500-93,000, it is highly likely that the price will continue to test lower levels, with a target downward move to 89,500. $BTC $ETH $XRP #BTC行情分析 #ETH走势分析 #比特币六连涨 #美联储降息 #加密市场观察
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Wednesday, the 7th evening BTC/ETH Silk Road sharing
Bitcoin has been steadily declining from around 93,700 during the day to 91,500 before finally stabilizing. The current trend remains weak. From the hourly chart, the price has been consistently suppressed within a downtrend channel, and the rebound has not even reached the moving averages, indicating that the bulls currently lack the strength to counterattack. Although there is short-term support below, this is likely just a temporary pause in the decline and does not indicate a trend reversal.
Overall, the market is currently dominated by bears. If the rebound cannot break through the resistance around 92,500-93,000, it is highly likely that the price will continue to test lower levels, with a target downward move to 89,500.
$BTC $ETH $XRP #BTC行情分析 #ETH走势分析 #比特币六连涨 #美联储降息 #加密市场观察