According to the current market situation, the four-hour level shows that the price is still operating between the middle and lower bands of the Bollinger Bands. After the appearance of a doji candlestick, the bullish candlestick has been pulled up somewhat, but there is still a certain upper shadow above the bullish candlestick, indicating that there is still selling pressure from above. Additionally, the bullish rebound has been repeatedly hindered at the middle band of the Bollinger Bands, so the overall downward trend will not change until the bulls successfully reclaim the middle band. The rebound is merely a normal corrective action. From the one-hour level, the price is gradually approaching the upper band of the Bollinger Bands, but there are long upper shadows left above the candlestick bodies. In the short term, the bulls have repeatedly tested the upper band of the Bollinger Bands but have returned empty-handed, indicating that the bullish momentum is insufficient to support the price in breaking upwards. Therefore, for midnight operations, we can consider a high short position after the rebound.

Bitcoin can be shorted around 114,500 with a target of 112,500.

Ethereum can be shorted around 4,380 with a target of 4,200.