Bitcoin is currently oscillating within a weak range. Yesterday’s dip-and-rebound did not effectively break through. The downward momentum has slightly weakened, but bulls lack capital support, so the rebound is unlikely to continue. Market highs are consistently moving lower, and the larger bearish trend remains unchanged. The current rebound is only an oversold-conditions correction, with no reversal signal yet.

The 4-hour Bollinger Bands are closing/contracting tightly. Price is under pressure on the mid band, and the bulls-versus-bears struggle is intense. A one-way move requires a breakout with increased volume. On the hourly chart, there is some limited room for minor recovery, but resistance overhead is dense, so the rebound’s upside is capped.

Trade with a focus on shorting at the top of the range, and lightly test short longs with small positions at the lower levels. The overall bearish structure remains unchanged. Rebounds are merely a continuation of the downtrend—do not chase rallies or hold positions against the trend. Manage risk properly.

Short Bitcoin on the rebound around 60500-61000. Targets: 59200-58600; if it breaks down, look at 57800.

Short Ethereum on the rebound around 6120-6150. Targets: 1560-1500.