Analyzing from a 4-hour perspective, the price has continuously retreated from the previous high. After establishing a downward trend, the decline has been smooth and strong. Recently, after the price fell to around 114605, there was a slight rebound, but the rebound was limited and more inclined towards a phase correction within a bearish trend, not effectively reversing the overall downward rhythm. Looking at the Bollinger Bands, the middle band continues to extend downward, exerting pressure on the price. The upper band is also turning downward, further compressing the upper space, while the lower band pulls the price downwards, with the overall band shape completely fitting the bearish trend. If the short-term rebound cannot effectively break the pressure of the middle band of the Bollinger Bands, it is highly likely to continue the downward rhythm. In the early morning operations, Lao Hu suggests treating it with a rebound strategy. #BTC #ETH

Operation Suggestions

Bitcoin can be shorted around 116500, with the target first looking at 114000.

Ether can be shorted around 4350, with the target looking at 4200.