4-hour level analysis shows that the price has continuously declined from a high level, forming a clear downward trend. The Bollinger Bands are diverging downwards, with a significant resistance at the middle band. Recently, the price has slightly rebounded from the lower band but is under pressure at the middle band, remaining in a downward channel, and the bearish trend structure has not been broken. At the same time, combining with Lao Hu's analysis approach from early morning, Bitcoin needs to firmly stand above 114,500, and Ether needs to stabilize at 4,340 for a short-term continuation of the rebound to be possible. Whether it can effectively maintain this position still requires further observation and verification. #BTC #ETH

　　Overall, the price's downward trend from a high point is clear, with no effective reversal signals. The short-term rebound is under dual pressure from the Bollinger middle band and the previous downward trend line, and the rebound volume is insufficient, indicating a weak willingness to follow the bullish trend. If the price cannot quickly break through and stabilize above the Bollinger middle band, it is highly likely to continue the previous downward trend, testing the lower band or even lower positions again. Although there is a rebound in the current market, the core logic of the bearish trend remains unchanged, and the probability of further decline after the rebound is significant. In terms of operations, one can layout short positions relying on the resistance at the middle band, while also being cautious of short-term rebounds near the support below.

　　Operation suggestions

　　Bitcoin near 114,500 short, target 112,500

　　Ether near 4,350 short, target 4,150