Thursday Market Review

Throughout Thursday, Bitcoin continued its weak trend. It initially surged to around 91,666 but failed to hold, then steadily declined, with the lowest touching around 89,242 before rebounding. Ethereum showed a similar pattern, with a morning high of 3,183 and a low of 3,052 in the evening.

On the trader side, a long-short combination was deployed. The early long positions lost 400 points on $BTC and 19 points on $ETH due to the trend reversal. However, the subsequent two short setups were successfully executed—$BTC two shorts accumulated a profit of 2,000 points, and $ETH two shorts gained 100 points.

From a technical perspective, the four-hour K-line has formed three consecutive bearish candles. Although there was a slight rebound recently, the Bollinger Bands are still trending downward, and the overall market remains in the lower range. This rebound is merely a correction for the bears, and a true reversal signal has not yet appeared. The one-hour chart shows a large bullish candle breaking through the middle Bollinger Band but then losing momentum, indicating that the buying pressure is insufficient. Under the current lack of buying strength, short-term upward momentum is unlikely to sustain.

Midnight Strategy: Continue with a bearish outlook.

$BTC: Enter short positions around 91,000, target 89,000
$ETH: Enter short positions around 3,130, target 3,000