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Opportunities are hidden in every market fluctuation. Some can accurately grasp the turning points, while others can only watch the chances slip away from their fingertips.
Today, intraday, Bitcoin surged in the early session but then entered a sideways consolidation, oscillating narrowly around 91,000. In the afternoon, it plunged to a low of 89,632. Ethereum followed the trend, reaching around 3,148 in the morning, then oscillating around 3,115, with a low of 3,066 in the afternoon. Interestingly, the short position set at 91,227 in the morning was successfully closed at around 90,000.
From a technical perspective, the 4-hour chart shows a continuous downward decline. Although there is strong support below, the rebound momentum has clearly weakened, with trading volume and buying interest both appearing feeble. The price remains stuck below the middle band of the Bollinger Bands, trapped within a downward channel. Multiple moving averages are arranged in a bearish configuration, indicating that the short-term trend is still dominated by the bears.
Switching to the 1-hour chart, although a series of bullish rebounds emerged, the upper band resistance is obvious, and the Bollinger Bands are tightening, indicating a typical weak correction phase.
Tonight's strategy is clear: go short on Bitcoin around 90,900-91,300, targeting 89,300; short Ethereum near 3,130, aiming for 3,000. Remember to set stop-loss orders; defense is very important.