Yesterday, the market showed a drastic fluctuation pattern, with Bitcoin and Ethereum engaging in a tug-of-war between bulls and bears. In the early morning, Bitcoin fluctuated lower, dipping to the 102,500 line before rebounding from the bottom, ultimately recovering to the 104,000 mark, currently showing an upward trend; Ethereum's movement highly resonated with Bitcoin, continuously facing downward pressure during the day, and after reaching the strong support level of 2,475, it triggered a technical recovery, overall maintaining a weak oscillating pattern.

From the current market perspective, the bearish forces are currently dominant. The 4-hour K-line shows that the price effectively broke through the lower Bollinger band. Although it has technically retraced back to the middle and upper Bollinger bands, the MACD and KDJ indicators continue to diverge downward, forming a typical bearish arrangement. It is worth noting that the rebound highs are showing a stepwise downward movement, creating a standard V-shaped reversal pattern, further confirming the short-term downward trend. 101,800 is still a key resistance level below, and it is recommended to maintain a short-selling strategy during the midday session.

Bitcoin can be shorted in the range of 103,800-104,200, targeting around 102,000; Ethereum can be shorted in the range of 2,530-2,560, targeting around 2,440. #比特币 $BTC