From a technical perspective, the current market rhythm is very clear—it's dominated by bears.

In the short term, the MA7 line is holding tightly, and as soon as the price tries to move up, it gets hammered down immediately. The rebound momentum is almost exhausted. Looking further up, the MA30 is still gradually declining, imposing a medium-term constraint on the price. More importantly, the MA60 and MA30 have already formed a death cross, and this state has persisted for 3 trading days. The bearish resonance effect of the moving average system is growing stronger, and the medium-term downtrend is essentially locked in.

Trading volume further illustrates the issue. During the rebound, the price indeed moved upward, but the trading volume was shrinking, a classic volume-price divergence. This kind of low-volume rebound is essentially a paper tiger; the bulls don't have enough ammunition to break through the previous high of 89,000. The rebound is just the last gasp of a dying force.

Specifically: Bitcoin around 88,000 is a shorting opportunity, with a target of 86,000; Ethereum near 2,960 is also a shorting point, with a target of 2,850.