After experiencing fluctuations over the weekend, the market is showing signs of fatigue at high levels. Bitcoin has rebounded to the 88100 level, but Ethereum has clearly faced pressure at the 2850 mark. This indicates that selling pressure is intensifying above, and the momentum for rebounds may weaken. Therefore, we assess that the risk of a downward trend in the market is significant, and the strategy continues to hold a bearish view on rallies.
From the 4-hour perspective, Bitcoin has been oscillating between the middle and lower bands throughout the day, presenting an overall pattern of slow decline. The strength of the bullish rebound is evidently insufficient, with the middle band pressure remaining effective, and the market is currently evolving gradually by exchanging time for space. On the 1-hour level, the Bollinger Bands are beginning to contract, with prices repeatedly moving between the upper and lower bands. Despite multiple attempts to rebound upwards, they have all faced pressure near the upper band and retreated. Although the current price is temporarily above the middle band, the rebound is more about building momentum for subsequent shorts, making it difficult to form an effective reversal. The key short-term resistance still looks at the 88500 line; if this position can hold firm, the bearish outlook remains unchanged.
Bitcoin: Short positions around 88500, target at 85000.
Ethereum: Short positions in the 2840-2870 range, target at 2750.
