On the 4-hour chart, BTC saw a modest rebound but faced resistance at the Bollinger Band midline. A large bearish candle then erased the entire gain. The long lower wick shows intense buying and selling pressure below the 60,000 level.

While a short-term recovery is possible, the broader bearish structure remains unchanged. In a fearful market, without a clear bullish catalyst, lows may continue to move lower.

On the hourly chart, BTC rebounded with consecutive bullish candles after becoming oversold during the sharp sell-off. A hammer candle near the lows is supporting the recovery, so short-term pullbacks may offer opportunities for tactical long positions.

Trade Setup

BTC: Consider a long position near 59,000, targeting 61,500.

ETH: Consider a long position near 1,550, targeting 1,630.

$ETH ‌