During the rebound process in the early morning, the trading volume has not effectively expanded, and the buying seems to be merely sporadic exploratory entries, lacking the motivation for sustained follow-up. This makes the rebound appear more like a brief pause in a bearish trend rather than a signal for a trend reversal. Looking at the resistance above, it is like an insurmountable barrier. The key points that have repeatedly failed to break through remain there, and every time the price approaches, it encounters significant selling pressure. On the technical indicators, the space between the middle and upper bands of the Bollinger Bands continues to narrow, showing no signs of expansion due to this rebound, indicating that the overall willingness to fluctuate in the market remains low, making it quite challenging for the bulls to make a breakthrough.

For investors holding short positions, there may be no need to rush to exit at this moment. After all, the current trend has not shown clear divergence signals; both the price volatility and candlestick patterns remain within a relatively convergent range. From a daily perspective, the overall downward structure has not been broken, and the moving average system still displays a downward divergence, providing ongoing support for the bears. In the upcoming early morning period, continuing to look down seems to be a more prudent approach. It is worth paying attention to the support at the previous low points below; if this level is effectively broken, it may trigger a new round of selling, pushing prices further down. In the current market situation, patiently holding short positions and waiting for the trend to clarify further may be a better choice.

Bitcoin 117000 short, focus on 115000

Ethereum 4380 short, focus on 4300