Bitcoin closed lower overnight, showing a significant rebound this morning. However, this round of rebound lacks sustainable momentum, and the market displays false upward signals, suggesting that the current bullish trend is difficult to maintain, and the high-level area may be a trap to lure buyers. Therefore, if the price faces resistance during the intraday rebound, a bearish outlook should still be maintained.

In the short term, all cycles of moving averages remain in a bearish arrangement with no signs of reversal, reflecting the weakness of the bulls and failing to provide effective support. The current recovery is merely a technical pullback within the downtrend, not a sign of trend reversal. Historical patterns show that such corrections often continue the downward trend, so the subsequent strategy should remain bearish.

In the afternoon, it is recommended to enter short positions when Bitcoin rebounds in the range of 101800-102300, with a target price set to look down to 99000. For Ethereum, when the price rebounds to the range of 2200-2250, one can set up short positions with a target price of 2150.