After Bitcoin's price reached a high of 94769 USD in the afternoon, it encountered strong resistance and immediately entered a pullback mode, dipping to a low of 93800 USD during the session. The current market trend is highly event-driven, and any favourable or unfavourable information will have a direct impact on BTC and the US stock market. From the 4-hour and 1-hour charts, although the overall trend remains downward, the short-term fluctuations are relatively slow. Additionally, the price has experienced a certain rebound, temporarily easing the downward trend. Therefore, the evening trading strategy will still focus on shorting, and rebound signals can be seen as an opportunity to get on board for shorting. Considering the prior range-bound fluctuations, when the price dips near the lows, one might consider going long on dips.

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The rebound of Ethereum from the low of 1780 USD this morning once reclaimed the 1830 USD level, but then fell again. From the current market structure analysis, the bearish trend is expected to continue. It is anticipated that the evening market is likely to maintain the bearish momentum, with the current price movement having shifted from a low rebound to high resistance, accompanied by a series of slow pullback actions. The price breaking down in the early hours has turned the original support level into a resistance level. The current market needs to pay close attention to the support strength near the lower Bollinger Band on the 4-hour chart; if effective support is obtained here, it may trigger a wave of technical rebound.

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Currently, market funds are highly concentrated in BTC and leading tech stocks, while other sectors perform sluggishly, lacking a sector rotation effect, which makes it difficult for the market to achieve a full reversal. A true market reversal requires waiting for new driving factors to emerge, such as significant policy Favourable Information or brand new market hotspots. Only when new stories attract a large influx of funds and push the coin price to break historical highs can the arrival of a reversal trend be confirmed. Therefore, in the short term, attention should be focused on whether Bitcoin can recover the $100,000 high point before last year's tariff policy Unfavourable Information. If it can successfully break through, it indicates that market funds are abundant and investor confidence is strong, allowing for an optimistic outlook on the future market; conversely, if the breakthrough is difficult, it reflects insufficient market confidence, and investors should remain cautious.

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