The calm before the storm. The morning clearly indicated that there was still momentum for a pullback, and the trend completely matched expectations: Bitcoin short-term fell to the 110200 level, while Ethereum similarly dipped to the 3960 level, and then immediately staged a rebound, highly consistent with yesterday's rhythm of 'first pulling back to test the bottom, then stabilizing and rebounding.' In terms of real trading layout, the short positions entered during the midnight period continued into the morning, and with the market's pullback, they exited precisely, successfully capturing a 1000-point space and achieving stable profits.
From the 4-hour K-line perspective, after the price surged to 116400, it continuously formed several long upper shadow K-lines, indicating that the bullish momentum was exhausted and there was concentrated selling pressure above, showing that the bulls were unable to push the price to break new highs. Subsequently, a large bearish candlestick engulfed the previous small bullish candlestick, forming a standard 'bearish engulfing' pattern, confirming the top reversal completely, with the dominance of the market shifting from bulls to bears, establishing a downward trend logic. During the pullback, the price not only broke through key support levels and the middle band of the Bollinger Bands but also had a weak rebound amplitude and shrinking trading volume, with no signs of any decline momentum weakening, confirming the strength of the bearish trend. Currently, the market has not shown any reversal signals such as bullish engulfing or hammer candlesticks, nor is there an effective support platform, making the bearish pattern likely to continue strongly in the short term, with little chance of a substantial reversal.
Bitcoin 113500-113800 short Target below 111000
Ethereum 4050-4080 short Target below 3900
