Reviewing the afternoon market, after Bitcoin entered a consolidation phase and the bears increased volume to break below the 68,000 level, it entered a short-term consolidation. In the evening, it continued to decline with increased volume, with the lowest retracement around 66,000, and is currently fluctuating around 66,500. Ethereum experienced a second rebound in the afternoon near 2,070, but faced resistance and pulled back, overall entering a weak downward trend. As the price further declined and broke below the 2,000 level, it is now consolidating around 1,995. In the afternoon, a short position was initiated on Bitcoin at 68,500, and after the price retraced to around 66,200, profits were taken, capturing a 2,300-point move. A short position was also entered on Ethereum near 2,070, and closed around 1,990, gaining 80 points.

From the current market perspective, the daily chart shows a large bearish candle with a retracement, with the price consolidating near the lower band. The Bollinger Bands are currently showing signs of flattening. The support structure at the bottom is relatively strong, indicating that some consolidation is needed before a breakdown can occur. The MACD previously formed a death cross above the zero line, indicating ample downside space, with a dominant bearish trend. Looking at the four-hour chart, the price has further retraced to around 66,000 and found support, but has entered a new downward channel. The short-term key resistance is at 66,000. The market retraced into an oversold zone on the intraday chart, showing signs of some short-term consolidation. In the near term, a slight rebound can be expected, followed by continued high-altitude trading.

Bitcoin can be shorted in the range of 67,300-67,800, targeting around 66,000. Ethereum can be shorted near 2,010-2,040, targeting around 1,950. #加密市场回调 $BTC $ETH