Last night, the market experienced a dramatic reversal. After the data was released, it briefly dipped to the 94,000 level within the evening expectations, putting the bulls in a tense situation. However, the market then rebounded strongly, rising in a steady manner. This morning, it peaked at around 98,090 and is now in a state of fluctuation and adjustment near 98,000.

From the 4-hour K-line chart, after hitting the bottom at midnight, it quickly rebounded, almost recovering all previous losses. During the early morning period, it once reached the upper Bollinger Band but failed to achieve an effective breakthrough. Although there have been two consecutive bullish candles, the overall volume rhythm has slowed down, indicating that the bulls are facing some resistance in further upward movements in the short term.

Bitcoin rebounds around 98,500-98,000 for short positions,

targeting around the 96,500-95,500 level.

Ethereum rebounds around 2,780-2,750 for short positions,

targeting around the 2,670-2,640 level.