On Wednesday morning, the Bitcoin market moved relatively steadily, maintaining oscillation within a range. After reaching a high point of 89367, it faced pressure and retreated, with the price dropping to a low point of 88366. The Ethereum market also rose to a high point of 2506 in the morning, then began to decline, with the price touching a low of 2473.

From the current market perspective, the four-hour level shows that after experiencing a previous continuous decline, the market is currently showing a rebound with three consecutive upward movements, and the price has also reached above the lower track. Although there has been some short-term recovery, the momentum is weak, and the bullish sentiment is not strong. From the one-hour level, the market is oscillating around the middle band of the Bollinger Bands. Each rebound by the bulls is quickly suppressed by the bears, and there are no obvious signs of a trend reversal, so the bearish trend remains unchanged. In the afternoon, attention should be paid to the strength of the rebound, with rebound and short positions still being the main layout direction.

Bitcoin can be shorted near 89000-89500 with a target of 87000.

Ethereum can be shorted near 2500-2550 with a target of 2400.