The market is always changing, the only constant is change itself. True wisdom is not predicting when the storm will come, but steadying your helm in the storm. After two days of market fluctuations and adjustments, a slight rebound was welcomed on Sunday evening, with Bitcoin testing resistance near 91900 before retreating, and Ethereum encountering weakness around 3050. After reaching a high, the market retraced again, with both bulls and bears testing the upper and lower ranges multiple times without achieving effective breakouts; a directional choice phase may soon begin.
Overall, after the price surged to a temporary high near 93080, it failed to maintain an upward trend, and subsequent rebounds have not surpassed that high, with the strength of the rebounds continuously diminishing, forming a preliminary 'double top.' On the 4-hour chart, the previous upward wave starting from 86260 has completed a full bullish structure, and is currently in a correction phase. During the fluctuations, the bearish candlestick bodies far exceed the bullish ones, and there is no accompanying volume during the rebound phase, which represents a typical 'continuation of decline' pattern. From the daily chart, the price has formed three consecutive bearish candles, facing resistance at the middle track, with multiple pullbacks failing to break through that position, confirming a lack of bullish momentum. The range of oscillation is gradually narrowing, indicating not a buildup of bullish energy, but a process of the bears digesting the selling pressure. After the consolidation is complete, the probability of a downward breakout is extremely high.
Operation Suggestions
Short near 90000 for Bitcoin, target around 88000
