Thursday Afternoon Mainstream Analysis

Recently, the bulls have started to become active, not only with Bitcoin strongly breaking through the 94000 resistance, but Ethereum also breaking through the 3200 resistance. The price has once risen significantly, which has greatly boosted the confidence of the bulls. However, here I must pour a bucket of cold water.

The current rebound is merely a short-term correction, and the long-term bearish trend remains unchanged. After a series of large bearish candles on the weekly chart, Bitcoin has shown a series of small bullish candles. Nevertheless, indicators at all levels still point towards bearishness. Looking at the daily chart, Bitcoin has recently broken through the middle track with consecutive bullish candles but has turned bearish afterward. The Bollinger Bands maintain a downward channel, indicating that the overall direction remains bearish.

This afternoon, it is recommended to short Bitcoin above 93500, with a short-term target of looking down at 91500-90000. For Ethereum, short in the 3205-3230 range, looking down at 3150-3100$BTC $ETH .