In the early morning, Bitcoin started a technical rebound from the low of 58988, surged to around 60666 where it encountered resistance and reversed, currently falling back below the 60000 mark; ETH followed the market in recovery, quickly pulling back after rising to 1637, with a low of 1610. This upward move is merely a short-term oversold rebound after a sharp decline, with the momentum of bullish buying continuing to weaken. The price has failed to effectively break through the downward channel, and the rebound lacks sustainability.

On the weekly chart, the market has continuously shown bearish candles with increasing volume, and key support levels have already been broken, establishing a medium-to-long-term bearish trend. Short-term indicators are in oversold territory, suggesting a slight technical need for a short-term rebound recovery. However, the overall market structure remains unchanged, with all rebounds presenting opportunities for bears to enter. Short-term moving averages simultaneously form resistance levels, and the upper pressure zone is highly effective, leaving bulls unable to reverse the downward trend.

Short Bitcoin when it rebounds to 60500-60800, targeting 59300-58000.
Short Ethereum when it rebounds to around 1620, targeting 1550-1480.
$BTC $ETH #Solana生态ANSEM暴涨