The rebound and repair phase has resumed, and time flies swiftly; the weekend market is once again upon us. Last night, the market cascaded downwards, and after a significant decline at midnight, it showed a rebound and repair phase. The Bitcoin price dipped to around 87900, while Ethereum hovered around 2980. The downward space has once again been opened by the trend, and the trend after the weekend repair is already very clear.
The short-term repair adjustment is still concluding, and the overall market volatility is relatively weak. From a four-hour perspective, the market is currently operating near the lower Bollinger Band, with bulls and bears pulling back and forth, continuously testing the bottom support. The previous downward trend has clearly turned bearish, and the middle and lower Bollinger Bands are under significant downward pressure, combined with the MACD technical indicator showing a top divergence dead cross that continues to expand downward; the bearish sentiment in the market is very solid. From an hourly perspective, the market is currently operating below the middle Bollinger Band, and the short-term rebound momentum has clearly completed; the middle band is under pressure again, and the bearish trend is about to rise again.
Bitcoin short in the 89700-90000 range, target 88500
Ethereum short in the 3050-3080 range, target 3980$BTC
