Intraday Asian session as expected, the bulls saw increased volume. After Bitcoin closed the early session with a slight pullback testing the bottom support structure without success, it then staged a second rebound in the afternoon. Currently, Bitcoin's highest rally is around 88,000, facing resistance, and there has still been no further breakdown. Ethereum, as we recently analyzed, remains in a relatively volatile consolidation range, generally fluctuating between 2900 and 3000. The intraday rebound has also been achieved; we positioned long positions early on, and Ethereum took profit as expected. Bitcoin experienced smaller fluctuations, gaining over 600 points in short-term gains before exiting. The market continues to stay within the range, and maintaining the previous strategy remains appropriate.

Looking at the current chart, the daily line has turned positive again, recovering near the midline. No further breakdown has occurred, indicating that the bulls are still not strong enough in the short term. The trading range is likely to remain volatile within the oscillation zone. Considering the momentum from yesterday’s rebound, today’s rebound may break through the midline, but a substantial breakout remains challenging. On the four-hour chart, multiple candles with lower shadows turning positive suggest that the support structure at the bottom is relatively solid. However, overall, the price remains within a triangle pattern. A second breakdown would still be pressured by the 120-day moving average after a rebound. The formation of lower shadows as a bottoming pattern often indicates a weak bottoming structure. The bulls are still unable to regain strength convincingly. Moving forward, the strategy is to continue shorting at high rebounds, and in the short term, maintain a sideways trading approach.

Bitcoin can be shorted around 88,500-89,000, with a target near 86,500. Ethereum can be shorted around 3000-3030, with a target near 2920. #BTC #ETH