Reviewing the intraday market movement, Bitcoin rebounded to the 60666 level early yesterday morning before facing resistance and pulling back. During the day, bearish momentum continued to increase, breaking through the key support at 59000, and finally stopping its decline after hitting a low of 58160 before stabilizing. Ethereum followed Bitcoin's trend, dropping from a high of 1637 to support at 1549, and is currently oscillating around 1570. Recently, we have been positioning with a bearish bias, and the overall market structure has generally met expectations. By understanding the trend, profits naturally come effortlessly.

Looking at the current chart, the Bollinger Bands on Bitcoin's daily chart are narrowing, with volatility continuously compressing. The price is trading below the middle band and close to the lower band, with strong support at 58000 below. It is currently oscillating in a narrow range between 58300 and 60500. The MACD double lines are forming a small golden cross at low levels underwater, but the red bars are extremely short, indicating insufficient volume. Any current rebound should be viewed as a technical correction after a sharp decline, not a reversal trend. On the 4-hour chart, small bullish and bearish candles alternate, with no consecutive bullish candles driving a rally. The green bars of the rebound are very small, showing a weak structure where the price lacks volume during rebounds but increases volume during declines. Therefore, the trading strategy remains primarily bearish.

For midnight, Bitcoin can be shorted at 59000-59500, targeting around 58000.
For midnight, Ethereum can be shorted at 1580-1610, targeting around 1500.