BTC. Looking at it from a larger perspective, the daily price level is clearly in divergence and has been for some time.

Yesterday there was also a big wave, directly engulfing the large bullish candle from May 18. Although most of the losses were recovered by the evening, the final daily candlestick still formed a hanging man, which I do not consider a positive signal.

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When we zoom into smaller timeframes, it's hard for me to say there are any trending candlesticks here; it's just oscillating back and forth, but the amplitude far exceeds normal conditions, and the time is much shorter than usual.

Undoubtedly, BTC's futures have now become a battleground, with both sides getting squeezed; I temporarily choose to stay away.

Looking at ETH. I must commend Ethereum; compared to Bitcoin, the level of manipulation is significantly less, with the only genuine manipulation occurring during the period indicated by the blue arrow.

Even in this less manipulated state, it quickly provided directional guidance after ending the short squeeze, as indicated by the purple arrow. Those with some trading experience should understand what I mean.

The subsequent price action is much easier to trade, with both rebounds occurring at the golden ratio points of the previous decline. As long as one is bold enough, it is very easy to catch the entry by shrinking the entry timeframe even smaller, and eventually, it successfully broke below the 2405 4-hour demand line.

So is the rebound after breaking the demand line still bearish?

Yes, it is bearish. Why not? It's just that the entry position is debatable.

Moreover, most of my profits over the past few days have come from shorting Ethereum, so I will have more patience with it.

In summary, Bitcoin is in a state of divergence with a new high, then a new high with divergence, in an extremely bizarre state, which is difficult to trade, and I currently do not wish to engage.

Ethereum's decline has been very standard; it's just that the entry positions vary, and one should focus on their own trading.