Looking back at the morning session's market trends, Bitcoin faced pressure and retreated after reaching a high of 116000, ultimately finding support around 114800 and stabilizing. It then rebounded from the bottom, and as of now, it has seen a pullback near the high of 116760. Ethereum has shown a similar pattern to Bitcoin, with the lowest point coming down to around 4578, followed by a rebound to near the high of 4668 before experiencing a pullback. Currently, short positions are still being held.
From the current market perspective, on the hourly level, Bitcoin has been under pressure after a rise to the high point, and the price has fallen back below the upper band of the Bollinger Bands, maintaining a weak performance. Although there has been a brief halt in the downtrend after testing the support below, the bearish momentum has not fully dissipated. The current consolidation is merely a technical correction in the downward process; the so-called "rebound" is actually a trap for inducing long positions and is unlikely to last. Although the price once approached the upper band of the Bollinger Bands, the moving average system shows a lack of upward momentum, and the so-called "turning point" is merely a temporary fluctuation that does not provide a foundation for trend reversal. Market sentiment has not genuinely shifted to a positive tone, and the short-term fluctuations just provide conditions for the bears to build up momentum. The larger pattern still remains downward-dominant, and any upward rebound serves as an opportunity to short at higher levels. In terms of operations, decisively use rebound signals to enter short positions, focusing on the performance in resistance areas; a rebound is a shorting opportunity.
In the afternoon, Bitcoin is focusing on short positions around 116500, with a short-term target of 114500.
In the afternoon, Ethereum is targeting short positions around 4670, with a short-term target of 4550
