Looking at the 4-hour chart, Bitcoin surged to 90,400 and then started to turn around. The long upper shadow reveals signs of exhaustion at the top. The double top pattern is becoming more evident, with the upper Bollinger Band firmly pressing down on the price. The short-term upward trendline has also been broken, and whether the midline can hold is now questionable.
The most awkward part is that after retesting, it never broke through the previous high, which clearly indicates that the bullish momentum has significantly weakened. The technical signals are already pointing to a bearish trend.
Here's the trading idea. Bitcoin can consider short positions in the 88,900 to 89,500 range, as the resistance above is too strong. If it drops, look at the 87,000 and 86,000 levels. Ethereum follows a similar logic, with short positions around 2,990 to 3,020, targeting 2,850 and 2,750. That’s how the market works—wait for confirmation signals, and opportunities will naturally come.
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MemeCoinSavant
· 8h ago
ngl the double top thesis is hitting different when you can actually quantify the memetic exhaustion via bollinger band compression... according to my peer-reviewed analysis of 4h candle rejection patterns, we're observing statistically significant bearish divergence (p < 0.420)
Reply0
StillBuyingTheDip
· 8h ago
Oh no, are we opening a short position again? I was hoping to buy cheap.
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liquidation_surfer
· 8h ago
90400 dropping is still a bit intense, the bears are about to start celebrating.
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GweiWatcher
· 8h ago
Damn, 90,400 has been hit again and again, the bulls are really out of the game.
Looking at the 4-hour chart, Bitcoin surged to 90,400 and then started to turn around. The long upper shadow reveals signs of exhaustion at the top. The double top pattern is becoming more evident, with the upper Bollinger Band firmly pressing down on the price. The short-term upward trendline has also been broken, and whether the midline can hold is now questionable.
The most awkward part is that after retesting, it never broke through the previous high, which clearly indicates that the bullish momentum has significantly weakened. The technical signals are already pointing to a bearish trend.
Here's the trading idea. Bitcoin can consider short positions in the 88,900 to 89,500 range, as the resistance above is too strong. If it drops, look at the 87,000 and 86,000 levels. Ethereum follows a similar logic, with short positions around 2,990 to 3,020, targeting 2,850 and 2,750. That’s how the market works—wait for confirmation signals, and opportunities will naturally come.