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Yesterday, we indicated that the market is expected to first rebound within the 90500-89500 range and then face resistance and decline. The actual market movement was in line with expectations, initially surging to around 90373, then falling to a low of 86760, basically reaching our suggested target zone. The daily chart currently still shows weak signals, maintaining a consolidation structure overall. Trading strategies can continue to follow the high-low swing approach, reducing frequent trades and waiting for key level confirmations. On the four-hour chart, the price is trading below the middle band of the Bollinger Bands, repeatedly attempting to break upward but failing to do so, indicating insufficient bullish momentum and gradually strengthening bearish forces. The MACD shows a bearish divergence with a downward trend, with the fast and slow lines diverging downward, indicating ongoing bearish momentum. This morning, the main strategy remains to establish short positions after a rebound. For more aggressive traders, small long positions can be attempted, but quick in and out is necessary, and after the rebound reaches key resistance, switch to short positions.
Trading Suggestions:
Bitcoin can be gradually shorted within the 88300-88800 range, targeting around 86300.
Ethereum can be gradually shorted within the 2980-3000 range, targeting around 2850.