The weekend overall presents a horizontal consolidation adjustment. Bitcoin rebounded to around 89000 before being pressured and falling back, with a low retracement to around 87500 to stop the decline. The price ratio continues to adjust within the current oscillating structure, and attention still needs to be paid to the pressure situation above to see the future operation ideas. Overall, during the weekend, our view of high shorts and low longs in the range of 89000 being pressured has been reiterated.

From the current market perspective, after experiencing a strong downturn earlier, the daily chart has shown a three-day consecutive rebound, recovering some lost ground. The price continues to be pressured below the midline of the Bollinger Bands, with a significant high and low fluctuation. The overall downward trend has not shown a substantial reversal, and breaking through the upper pressure to shift to a bullish trend still requires attention to the substantial breakdown of the midline. From the perspective of the short-term 4-hour chart, after the market tested the support of the midline of the Bollinger Bands, it launched a minor bullish rebound. However, the price has always been constrained within the mid to upper track of the Bollinger Bands, and in the recent high process, there have been multiple recordings of long upper shadows combined with bearish candlestick patterns indicating stagnation in rising momentum. The bullish momentum is gradually diminishing, and the upper pressure level is relatively significant. As the closing line approaches, the price ratio will further consolidate at the top of the oscillating range, reaching the top of the downward channel, and currently, there has been no breakdown. In the early trading session, we refer to entering high shorts at the oscillating top.

Bitcoin can be shorted in the range of 89500-89000, looking towards around 87000. Ethereum can be shorted in the range of 3020-3050, looking towards around 2950. #BTC #ETH