Understand the trend, hold the position, time will reward those who persist the most richly. Bitcoin quickly fell back after reaching 91700 at midnight, now it has dropped back to around 89600. This trend technically constitutes a clear bearish signal. The price is blocked at a key resistance level and forms a long upper shadow, indicating that bullish momentum has weakened, and the bears are very strong in their counterattack at critical positions. Midnight Yang Jie’s strategy has already advised everyone to short on the rebound. The Midnight Yang Jie team led students to set up Bitcoin and Ethereum short positions at 90867 and 3116 respectively, exiting at 89049 and 3038, with Bitcoin capturing a space of 1820 points and Ethereum capturing a space of 78 points.
From the observation of the four-hour chart, the price is currently in a high-level oscillation with a bearish structure. Both bulls and bears are locked in a stalemate in key areas, with support and resistance zones clearly formed. The market is repeatedly testing important technical thresholds. After experiencing a previous sharp decline, the price is now hovering in a relatively low range. Technical indicators show consistent bearish signals. In the KDJ indicator, the K line has crossed below the D line to form a death cross, suggesting that bearish momentum continues. Although the indicator has entered the oversold zone, which may trigger short-term fluctuations, overall it still favors the bears. Combined with the current K line combination and trading volume distribution, the technical structure shows that bears dominate in the short term. It is expected that the price still has further downward space. If key support is lost, it may open a downward channel, pointing to the next support area.
Bitcoin: Layout short positions in the 90500-91000 range, target around 88000.
Ethereum: Layout short positions in the 3070-3100 range, target around 2900.
