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1.2 Bitcoin/Ethereum Bull-Bear Battle is Obvious, Watch the Daily Highs
Bitcoin and Ethereum showed some rebound intraday, but overall remain in a range-bound pattern. Market sentiment has improved but remains cautious. On technical indicators, a double top pattern has formed on the 4-hour chart, confirming a short-term top. The daily chart has closed with long upper shadows for three consecutive days, indicating significant selling pressure around 90,000 for Bitcoin and 3,080 for Ethereum. Both the 4-hour and daily MACD have shown death crosses, and the price has lost the key EMA120 moving average. The 7-day and 30-day moving averages are also about to form a death cross, indicating a clear weakening of the overall structure. Watch for short-term resistance at the daily high points around 3,080 for Ethereum and near 90,600 for Bitcoin.
Evening Trading Suggestions: Short Bitcoin near 89,500-90,000, targeting 87,000-88,000; short Ethereum near 3,050-3,070, targeting 2,930-2,980.