Last night, the U.S. stock and crude oil markets experienced a double shock from news events, and the cryptocurrency market rebounded after hitting bottom yesterday, continuing to gain strength during the U.S. trading session. BTC briefly surged to 76.5k in the early morning. However, as the U.S. stock market closed, the bullish momentum quickly faded, and the price retreated, currently hovering around 75.8k in a short-term sideways consolidation. Yesterday's spot short positions were averaged down to around 75,700 after adding positions, and the outlook remains bearish.

From a technical perspective, the 4-hour chart shows a five consecutive bullish rebound, with the price temporarily recovering to near the middle band of the Bollinger Bands, then facing resistance and forming a bearish candle. The price is still below the middle band, maintaining a complete downward structure. Without any sudden major news triggers, the retracement trend is likely to continue.

On the hourly chart, after a sharp decline, the price slightly and slowly rose to test the upper band resistance, then quickly fell back with three consecutive bearish candles, returning near the middle band. The MACD indicator shows ongoing reduction of bullish momentum, while the KDJ lines are diverging downward, indicating that the short-term bullish momentum has completely lost its upward energy. The overall trend remains weak.

Today's trading strategy

BTC: Short in batches around 76,000, targeting 75,000 and 74,200
ETH: Short in batches around 2,330, targeting 2,280 and 2,250