Afternoon Market Analysis

The intraday market is fluctuating within the 74,000-73,000 range, with repeated battles between bulls and bears, and has not yet broken into a clear trend, mainly oscillating.

From the four-hour timeframe, the overall moving averages show a standard bearish alignment, with the upper and middle Bollinger Bands continuously turning downward, confirming the current downward trend.

Currently, the rebound in the market is essentially a technical retracement after being oversold. Due to the lack of bullish momentum, and facing strong resistance at the middle band around 74,900, the rebound space has been severely compressed. Therefore, in terms of trading, one should firmly maintain a bearish overall outlook, viewing each rebound as an excellent opportunity for high-level positioning.

In terms of operations, Bitcoin is short around 74,000-74,500, with targets near 72,500-72,000.

Ethereum is short around 2015-2030, with a target near 1960.
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