5.1 Thursday Midnight Big Pancake Aunt's Thoughts

In the morning session, Bitcoin rebounded strongly from 93678, with the bulls launching a surprise counterattack, reaching a high of 95186, forming the first wave of attack within the day. After a 6-hour box range fluctuation to build momentum, the bears completed their assembly and launched an attack at the beginning of the US trading session, stopping at the 92848 line, perfectly validating the market logic of shorting after the rebound. Ethereum maintained a narrow channel during the day, and as Bitcoin broke downwards, Ethereum also lost key support in the evening, dipping to a low of 1730. Xiaoge repeatedly mentioned a bearish outlook during the day, and the market moved as expected.

First Battle Victory: Short position set at 95300, keenly capturing the rebound exhaustion signal, closing at 93800 to lock in a 1500-point space, perfectly grasping the rhythm of the first wave of correction.

Chasing Victory: When the price retraced to 94900 for the second time, re-entered the market, accurately judging the reduction in trading volume, harvesting another 1700 points at 93200.

Dual-Line Operations: Short position on Ethereum at 1825, taking profit at 1780 for a gain of 45 points.

Final Battle: The evening rebound at 1800 was seen as an excellent shorting opportunity, exiting at 1750 for another 50 points, achieving a perfect record of four wins in four battles throughout the day.

From the current technical analysis of Bitcoin on the 4-hour and 1-hour levels, the overall market shows a bearish dominance pattern, with key resistance levels under continuous pressure and support levels being repeatedly tested. Technical indicators are releasing multiple bearish signals: The Bollinger Bands are showing a downward opening on both timeframes, indicating increasing downward momentum; the RSI indicator hovers in the neutral weak zone on both levels, with no clear signs of a stop in decline; regarding the KDJ indicator, the K value on the 4-hour level has crossed below the D value to form a death cross, with the J value continuously running in the oversold area, while the 1-hour K and D values show a significant divergence after the death cross, indicating a strong bearish control. Funds are showing a continuous net outflow, along with a significant increase in short position liquidations, reflecting heavy selling pressure in the market and rising bearish activity. The pattern structure is particularly critical; if the 4-hour level effectively breaks below the key level of 93,000, it may confirm the formation of a head and shoulders top pattern; the short-term moving average system on the 1-hour level presents a standard bearish arrangement, forming significant resistance against price rebounds, with the midnight outlook still focusing on shorting after rebounds.

Bitcoin: Can short around 94500, short-term target 93000.

Ethereum: Can short around 1790, short-term target 1730.