On Wednesday afternoon, the Bitcoin market experienced a relatively strong downward movement. The price halted after a slight rebound to around 105276, then began a downward trend, with the price reaching a low of about 104111 in the evening. Ethereum followed the same trend as Bitcoin, with the price dropping from a high of around 2550 to a low of about 2491. During the afternoon, Sheng Ge provided multiple short positions, and the market moved as expected. The Bitcoin short position was entered near 105474 and exited near 104233, earning a profit of 1200 points. The Ethereum short position was entered near 2544 and exited near 2497, securing a profit of 47 points.

According to the current market situation, the four-hour level shows the market is approaching the lower band of the Bollinger Bands with a trend of two consecutive bearish candles. The bearish momentum is relatively strong, and after the MACD fast and slow lines formed a death cross, they continued to diverge. The histogram is gradually expanding below the zero axis, and the KDJ and RSI indicators, after briefly turning upward, are once again moving downward, indicating that the overall trend remains bearish. From the one-hour level, the market is showing a stair-step downward movement, without a significant rebound from the bulls. All indicators suggest that the current trend structure favors the bears, but the J value in the KDJ indicator has entered the oversold zone, indicating a possibility of a technical rebound in the short term. Therefore, in the evening, we will consider a high short position after the rebound.

Short Bitcoin near 105500 with a target of 103000.

Short Ethereum near 2550 with a target of 2450.