On the morning of the 24th, the current market is slightly recovering, but the rebound is not a reversal. This rebound is just a normal adjustment after a significant drop. The price of Bitcoin reached a high of around 88100 early in the morning, then faced pressure and fell back. Currently, it has quickly dropped to around 86000. From the 4-hour chart, the Bollinger Bands are narrowing downwards. In the short term, Bitcoin is showing small upward movements. Although the price has been recovering since it found support, it still cannot change the overall downward trend. The strategy is to follow the trend and take short positions at high levels.

Trading Suggestions

Short Bitcoin around 87000-87600, targeting 85000.

Short Ethereum around 2800-2840, targeting 2740.