In the cryptocurrency market, cautious and steady progress may not bring overnight riches, but it can help you avoid risks, survive long-term, and go further and steadier. After Bitcoin touched a high of 81,270 yesterday, the overall trend was dominated by bears, with the market continuously declining. After hitting a low of around 78,713 at midnight, the bulls began to rebound and recover, currently up to around 79,776. Ethereum was also dominated by bears; after rebounding to a high of 2,322 yesterday, it faced downward pressure, with the market falling continuously. The lowest at midnight was 2,233, where the decline slowed. This morning, we clearly indicated a bearish outlook, and all targets were reached as expected: Bitcoin short at 81,000 reached the second target at 79,000, gaining about 2,000 points. Ethereum short at 2,310 reached below the 2,250 target, gaining over 60 points.

From the current market situation, technically, we are in a small-scale consolidation phase. In the short term, the bulls have not been able to effectively extend their gains, as evidenced by a second retest. The daily chart continues to close with a downtrend this morning, forming a third consecutive bearish candle. If tonight’s session does not break through and stabilize above 81,000-80,500, the market will likely continue to fall, possibly deepening the correction. In the short term, the rhythm favors a rebound followed by further decline to solidify the bottom. Once the bottom is confirmed with support, a rebound may occur again. Therefore, our best approach now is to stay bearish without chasing after long positions. Currently, the market is weak, so the strategy remains to follow the rebound weakness and continue to short, focusing on key entry points.

On Thursday, short at 80,500-80,000 for Bitcoin, with targets at 79,000-78,000.
Ethereum short at 2,295-2,290, with a target around 2,200.