Reviewing the intraday market, Bitcoin's overall price action showed an initial rebound that was blocked at the 81,500 level, then faced downward pressure, and ultimately retreated. Throughout the day, it remained oscillating around the key support level of 80,600, which is also the middle line of the 4-hour chart. Ultimately, the bulls' rebound lost momentum, leading to increased volume on the bears' side. Currently, Bitcoin has once again broken below the 80k level, testing lower support levels for consolidation. Ethereum, as always, remains weak, starting to oscillate and retrace from the 2,350 level during the daytime. During the day, it began testing the support structure at 2,300. Although there was some rebound in the afternoon, similar to Bitcoin, after breaking through resistance, it continued to increase volume on the downside. The price dipped as low as around 2,280 with some resistance, but this short-term resistance does not indicate a trend reversal. The focus remains on signals of further breakdown. For today, our real trading strategy is mainly to go short at high levels. We set two short positions on Bitcoin, capturing a total of 1,900 points, and two on Ethereum, capturing 70 points. Currently, in the high wave, short positions are still held, with room for further downward movement. For long-term traders, those who are positioned for the long haul can follow our approach and continue to look for further dips.

From the daily chart perspective, after three consecutive bullish candles with long upper shadows, today’s candle is a large bearish candle showing consolidation, retracing the profits from the two-day rally. The market is now in a phase of adjustment. As this correction continues, further pullbacks could lead to a death cross formation, which would drive the bears to increase volume and push prices lower. The overbought zone of the current price has been corrected, but volume expansion indicates that the bears have not fully shown their strength yet. The key support remains near the middle line. Combining the 4-hour chart, the market experienced a large bearish candle that retraced to around 79,500 and faced resistance, which is the critical top resistance structure from the previous rebound. In the short term, a certain top and bottom pattern has emerged. The key is whether the price can stabilize further and rebound. The short-term upward channel is under more pressure, and with further pullbacks, the market is more likely to consolidate further. Although the KDJ indicator is at the bottom, the recent retracement of nearly 2,000 points has not entered the oversold zone, indicating that buying power is still insufficient and there is room for further decline. As the price moves back into the upward channel, the short-term outlook remains optimistic; after further adjustment, we can better judge the trend of bulls versus bears. For overnight positioning, the strategy remains mainly bearish.

Bitcoin can be shorted in the 80,000–80,500 range, targeting around 78,000. Ethereum can be lightly shorted at 2,300–2,320, targeting 2,280–2,250. #BTC回调 $BTC ‌$ETH ‌