Morning Bitcoin continues to fall to the 61,344 support level, now rebounding to stabilize around 64,000, with Ethereum moving in sync with Bitcoin. In the afternoon, the bulls launched multiple attacks but failed to effectively break through the key resistance level, and the market fell into a critical tug-of-war state.

From the current market situation, Bitcoin's daily chart shows a continuous large bearish decline, with a small doji forming in the afternoon to halt the decline. Trading volume has decreased, indicating a phase of shrinking volume and bottoming out after a sharp drop, but there is no sign of a stable bullish candle structure, and it is viewed as a continuation of the downtrend. The Bollinger Bands are opening downward, with the price closely hugging the lower band, entering a deep oversold zone on the daily chart. Until the bulls regain stability above 66,000, the downward trend remains unchanged.
After a series of small declines on the four-hour chart, there is continuous small bullish and bearish oscillation, with a slight bias toward the upper shadow in the rebound, indicating weak bullish momentum.
On the hourly level, the Bollinger Bands are extremely compressed, with the price oscillating between 63,100 and 64,100. After the compression, a downward break of the larger cycle is likely, making it difficult to test the upper band. Therefore, the strategy should be to follow the trend for rebounds and operate accordingly.
Bitcoin can be shorted in the 63,800-64,300 range, with a target around 62,000.
Ethereum can be shorted in the 1,800-1,830 range, with #ETH跌幅超5% a target around 1,650.