$BTC On Thursday, the Bitcoin market continued to show a trend of fluctuating downward movement. After reaching a high point of around 114797 in the morning, the price faced resistance and began to decline, eventually hitting a low of around 112221 by midnight. Ethereum's daily market followed a similar pattern to Bitcoin, with the price gradually falling from a morning high of around 4376 to a low of around 4210 by midnight.

Based on the current market situation, the four-hour level shows a trend of six consecutive bearish candles, gradually approaching the lower Bollinger Band. The bearish momentum continues to diverge, and during this period, the bulls have not provided any significant rebounds. All indicators at this level indicate that the overall market is under the control of bears. From the one-hour level, the market continues to show strong downward momentum. After experiencing three consecutive bearish candles, the decline has slowed, but there are no obvious signs of a bottom. Combining the previous movements, the continuous decline of bears is often accompanied by subsequent bullish rebounds, and each bullish rebound tends to provide momentum for the bears, leading to further breakdowns. Therefore, the downward trend remains unchanged at midnight, and we expect the bears to continue probing for a bottom.

Bitcoin can be shorted around 113000, targeting 111000.

Ethereum can be shorted around 4280, targeting 4150. #加密市场回调