Tonight, the bearish sentiment has once again intensified, and the low point has directly broken through the 60,000 and 3,000 support levels, approaching the monthly MA5 moving average. It is important to note that there is a gap between the Bitcoin monthly price and the MA5, while Ethereum's market has completed the gap repair. If Bitcoin continues to lead the bearish trend, Ethereum may drop below the monthly MA5 moving average. From a stability perspective, judgment should be based on whether Bitcoin's monthly MA5 can withstand the selling sentiment (the current key price reference is around 55,000). Due to subtle differences in the monthly trends of Bitcoin and Ethereum, timely updates are necessary, and everyone should be aware of the risks.

Currently, the daily chart of Bitcoin shows little change in the market structure, with strong bearish momentum. However, the price has fallen to the lower range, indicating that there may not be much room for further volume decline in the short term. The 12-hour technical trend is consistent with the daily chart, with bears in absolute control. Based on the current technical trend, the mainstream trend has not bottomed out. However, it is important to note that the daily BOLL does not provide much room for the bears. Therefore, a small rebound adjustment sentiment is expected in the early morning. Therefore, it is recommended to consider a retracement long strategy for early morning operations. Specific positions can be referred to as follows:

BTC: Long at 59,800-59,500, target 61,800

ETH: Long near 2,940-2,910, target 3,040

The above is a personal early morning market analysis for reference only. For those who are uncertain about trend and entry points in future operations, you can follow "Public Account: Mufeng Trend Analysis" for learning and discussion!

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