Price Trend Analysis$BTC ‌

1. Candlestick Patterns:

- Recent prices have been continuously declining from the high of 3295.6, forming a clear downtrend. Currently, the price is consolidating around 3110.

- After a series of consecutive bearish candles on the daily chart, there was a slight rebound, but the momentum was weak and failed to break through the previous important resistance level around 3167.

2. Technical Indicators:

- MACD: In the 4-hour cycle, both DIF and DEA are below the zero line. The MACD histogram is negative and shrinking, indicating that the bearish momentum has weakened but still dominates.

- RSI: RSI(14) is currently at 41.69, approaching the oversold boundary, suggesting a potential short-term technical rebound, but overall still weak.

- EMA: The current price is below EMA7 (3123.38), between EMA30 (3150.07) and EMA120 (3073.94). The short-term moving averages show clear resistance, while medium- and long-term supports still exist.

3. Volume:

- The 4-hour trading volume has been gradually decreasing, indicating a market wait-and-see sentiment with no clear directional guidance.

- The daily volume expanded during the sharp decline and then significantly decreased, suggesting that both bulls and bears are temporarily at an impasse.$ETH ‌