Reviewing the market during the early morning period, a one-way downward trend was observed. Bitcoin continued to decline after being pressured at the 90000 level, reaching a low of 88870, and then stabilized slightly and rebounded, currently undergoing range correction around 89300. Ethereum's pullback was relatively mild, gradually declining more than 30 points after being pressured at the 3055 position, rebounding at 3023, and currently oscillating around 3040.
The four-hour cycle shows a weak consolidation downward pattern, with candlesticks alternating between small bearish and bullish lines. The rebound momentum remains insufficient, and the moving average system above exerts significant pressure. Currently, it is in a low-level oscillation and consolidation phase after the release of bearish momentum. Trading volume is gradually shrinking, and the market is slowly digesting the momentum formed by the previous significant decline. If the key support below does not break, there is no risk of accelerated downward movement in the larger cycle. The hourly rhythm is relatively clear, with multiple retests of the low showing signs of capital support. Short-term stop-loss signals are initially appearing, but rebounds continue to be constrained by the mid-track pressure, and upward selling pressure has not weakened. In a weak oscillation structure, if the price does not create a new low, a technical rebound may come at any time.
Bitcoin: Short position around 90000, target near 88500
Ethereum: Short position around 3060, target near 2980
