The Bitcoin market has recently continued a volatile downward trend. After accurately capturing a drop of a thousand points with a short position strategy early yesterday morning, the price briefly rebounded to a high of 106,156 in the evening, but the bearish pressure was significant, leading to a quick pullback, with the lowest point in the afternoon dropping to around 104,735, entering a phase of sideways consolidation. Ethereum is also under pressure, and the short position strategy successfully captured a profit of 50 points.

From a technical analysis perspective, on the daily level, Bitcoin has completely fallen into a mid-term bearish pattern. The candlestick combination shows a standard bearish arrangement, with the MA5 and MA10 moving averages forming a death cross and continuing to diverge downwards, creating solid resistance; the MACD indicator continues to operate weakly below the zero axis, with the DIF and DEA lines consistently declining, showing no signs of convergence. More critically, the price remains constrained below the middle Bollinger Band, with bears firmly controlling the mid-term trend; switching to the 4-hour level, although there are occasional small bullish rebounds, the overall pattern remains a downward continuation. The strength of the candlestick rebound is weak, and the MACD green momentum bars are repeatedly expanding, indicating that bearish momentum is still accumulating; the Bollinger Bands are continuously expanding downwards, with prices briefly touching the upper band but quickly retreating under pressure, highlighting the effectiveness of the upper band resistance. The current rebound is merely a technical correction, and the subsequent trend is likely to continue downward. The operational suggestion for the day is to primarily focus on short positions, first observing the rebound and then seizing the opportunity for a second decline, with a key focus on the breakthrough situation of the resistance level above, responding flexibly to the bearish-dominated range-bound market.

For Bitcoin, short positions can be taken in the 105,500-106,000 range, targeting around 104,000; for Ethereum, short positions can be taken in the 2,560-2,580 range, targeting around 2,480. $BTC $ETH