Don't mistake a rebound for a reversal.

The weekly chart shows four consecutive bearish candles. The price of Bitcoin has plummeted 📉 from 116,000 to 80,000 over the course of a month, and the larger trend has completely weakened. Over the weekend, the market saw a significant rebound of 7,000 points, which gives the bottom-fishing bulls some hope. However, based on on-chain statistics, the market's fear has led to a lack of substantial buying volume. During the day, the market fluctuated back and forth between bullish and bearish, and it is unlikely to enter a particularly strong one-sided trend for now.

In the morning outlook, the futures contract at 87300 has hit a short target of 85700, achieving a 1500-point range. In the evening, pay attention to the support level at 85900; if it does not break below, there is still upward space for a small-scale rebound. The resistance above is seen at 8810-8980; if it breaks, the bearish trend continues with a focus on 8420-8220.

The entry point for Ethereum today is not particularly good, with an overall space of just 50 points. It's better to take profit directly. In the evening, watch for support at 2783; if it breaks, the small-level rebound will end. The support below is at 2738-2702. If it does not break, the rebound may continue to 2896-2955.

In a volatile market, it's important to take profits to prevent profit loss. Both short and long positions have certain space, so enter the market based on your position without overthinking the overall pattern! $BTC $ETH #非农数据超预期