The Bitcoin four-hour chart stabilized after a sharp drop at the 83786 point level, recording two consecutive days of weak recovery. However, the price remains within a downtrend channel, with a bearish pattern dominating the market. The short-term moving averages maintain a bearish arrangement, and the Bollinger Bands' middle band is moving downwards. The current rebound is merely a weak consolidation rather than a trend reversal. The hourly Bollinger Bands show a converging pattern with three bands running horizontally, indicating a high probability of entering a narrow range oscillation correction phase in the short term. The K-line is gradually rising, relying on the lower band for support, attempting to test the upper pressure. However, the rebound continues to be constrained by a key resistance zone, limiting the upward space. Although the MACD indicator has formed a golden cross at a low level, its slope is gentle and the momentum is weak. This wave of fluctuation is merely a technical adjustment under a bearish market, lacking substantial support for a trend reversal. Comprehensive analysis of multiple time frame technical patterns indicates that the overall structure of the current market remains bearish. Morning operation suggestions from Yunlu recommend primarily shorting on rebounds, while also closely monitoring Powell's speech at 9 AM today, as his statements may trigger short-term fluctuations in the market. Caution is required during operations to watch for unusual market movements and to strictly control risks.

Bitcoin: Place short positions around 87000-87500, targeting down to 84000.

Ethereum: Place short positions in the 2800-2830 range, targeting down to 2650#加密市场回调 $BTC .