$BTC $ETH Tonight, the pancake price comparison once again surged and then fell. The previous slow rise during the day was, from a technical perspective, a typical technical rebound correction. In the afternoon, we provided a short strategy for the rebound, and sure enough, in the evening, the price comparison saw a bullish volume, climbing to the 109180 line before quickly facing downward pressure. Currently, nearly a thousand points of volatility have been generated. With our keen market insight and the previously established operational strategy, we positioned short orders at high levels and reaped significant rewards.

From the daily chart perspective, the highs show a gradual downward trend, and the overall situation remains within a downward channel. The recent price rise has not effectively broken through the key resistance level and stabilized, indicating that bearish forces still dominate. Currently, the price trend of Bitcoin is at a critical stage of a tug-of-war between bulls and bears, with the candlestick showing a long upper shadow, indicating heavy selling pressure above, and the bulls encountering strong resistance while attempting to break upward. According to the moving average indicators, the short-term moving average and the long-term moving average show a bearish arrangement, further confirming the current downward trend. The Relative Strength Index (RSI) is in the weak area below 50, indicating strong bearish forces and a bearish market sentiment. The trading suggestion for the early morning is to short on rallies; as the saying goes, rebounds are an opportunity to short.

Bitcoin can be shorted at 108700-109000, targeting around 107200; Ethereum can be shorted at 2600-2630, targeting around 2500. #BTC #ETH