The morning market shows wide fluctuations again. Bitcoin initially suppressed and then rose to the 89900 line, while Ethereum rebounded to the 3150 position, and then both fell back under pressure, with bulls and bears caught in a tug-of-war again.
From a technical perspective, Bitcoin's daily bullish momentum is weakening, with short-term support appearing at the lower edge of the pullback range; after four consecutive bearish candles on the 4-hour chart, there was a rebound that closed positively, touching the middle track of the Bollinger Bands, indicating resistance and leaving a long upper shadow. The bearish structure remains unchanged, and the consolidation with reduced volume at high levels hides signals to lure in buyers. On the hourly chart, bulls recovered half of the decline, with the long upper shadow confirming effective pressure, and prices approaching the breakout momentum of the oscillation middle track, presenting a relatively strong oscillating trend in the short term.
In summary, the large-scale downward trend has not changed. Considering market sentiment and trend inertia, the afternoon trading strategy is to short on the rebound.
Bitcoin: Short near 90000, target at 87000
Ethereum: Short near 3150, target at 3000
