The recent price movements of Bitcoin and Ethereum have been quite interesting. The multiple opportunities for a high-level pullback that appeared earlier indeed provided plenty of room for retracement entries last night, and the overall gains have been quite good. Here's the current situation: after a decline, there's a rebound, and the price keeps oscillating within a range, but the underlying weak structure hasn't changed. Whether a breakthrough can happen depends on tonight's US non-farm employment data.

Let's look at the recent trend specifically. Bitcoin reached around 89,200 last night before bouncing back, then surged to 91,580 in the morning, and now it’s fluctuating around 90,400. Ethereum's rhythm is similar, with a low of 3,050 last night and a high of 3,147 today, currently around 3,090.

From the daily chart, the price has broken below the short-term upward trendline and is now stuck between the 5-day and 10-day moving averages. The MACD shows a death cross, with increasing green bars, indicating that the bears still hold short-term dominance. Although the 4-hour chart has rebounded from the lower Bollinger Band and RSI has exited the oversold zone—showing some technical correction—the strength of this rebound is still not very solid.

Key support levels to watch below are: 89,000 and 3,050 as the first line of defense. If these are broken, then 88,000 and 2,980 come into focus. On the upside, resistance exists but the rebound space is between 91,500 and 92,500 (Bitcoin), with Ethereum’s target range being 3,150-3,200.

Tonight’s non-farm payroll report is a major event. If the data significantly underperform expectations, it could trigger a strong rebound; conversely, if the data is strong, be cautious of the market being pushed down again. So, the technical rebound is just a surface phenomenon; the real direction depends on this data.

Trading ideas: For Bitcoin, try going long in the 89,500-89,000 range, targeting 91,500-92,500; for Ethereum, position around 3,060-3,080, aiming for 3,150-3,200. Of course, markets change rapidly, and these are just current technical thoughts. Specific adjustments should be made based on real-time movements, and trading involves risks.