The afternoon market is still in a bearish correction phase, with the overall decline showing some retracement. Bitcoin's price dipped to around 77,000 and faced resistance, currently rebounding to around 77,800 with sideways consolidation. Ethereum's movement has been similar to Bitcoin's, once dropping to the 2,300 level before rebounding. It is still in a relatively strong sideways correction, currently recovering to around 2,330 with sideways fluctuation. The high-position short positions laid out during the day have been taken profit on, with Bitcoin short positions around 78,200 in the afternoon, capturing 1,000 points before closing. Ethereum short positions around 2,355 also gained over 40 points before closing. Trading should follow the trend and not go against it.

The current market is in a stage of rebound after bottoming out. The four-hour and daily closing lines mostly remain within the consolidation range, but the highs are gradually decreasing, and the lows are testing key support levels. Although resistance is at 77,000, the bulls' volume increase is still insufficient. Whether the short-term correction has already bottomed out depends on the evening’s US stock market opening. The current retracement has not yet touched the bottom of the upward trendline. Don't rush to chase the rally. If further retracement occurs and a death cross forms between the MACD fast and slow lines, a divergence signal may appear. It is recommended to mainly short on rebounds.

Bitcoin can short at 78,000-78,300, targeting 77,000-76,000. Ethereum can try a light short around 2,350, watching the support at 2,300. #比特币反弹 $BTC $ETH