The market has entered a highly volatile state, with bulls and bears constantly testing each other. The overall market pressure is downward, with Bitcoin dropping from around 89000 in the morning to a low of 86976, while Ethereum also fell to a low of 2945. Bitcoin successfully reached its intraday downward target of 87000. Currently, the market is in a consolidation phase with some rebound momentum, but this is precisely the best operational pattern for shorting during a rebound, allowing us to better time our entries.
The current market is undergoing a corrective phase, with short-term bullish rebound volume still having some space. In the evening, it is advisable to wait for the rebound to end before entering short positions at higher levels. On the four-hour chart, the market is oscillating in the lower Bollinger Band area, with the K-line showing continuity in testing the middle track upwards, but the overall rebound momentum is clearly weak, and the rebound effect is poor, causing significant damage to the bulls. The MACD technical indicator continues to expand in a death cross divergence pattern, indicating a very strong bearish market. The subsequent downward continuation is exceptionally strong.
Short Bitcoin around 88300 Target 86000
Short Ethereum around 2990 Target below 2900
