BTC was pushed up to 86,700 this move, which does look strong, but don't get carried away. My view remains unchanged: shorts still have a chance, and it's right now.
The core logic is simple: the area around 87,300 is too strong. The daily candle did close bullish, but it still failed to break through this hurdle, showing that bullish momentum is only so-so and looks more like the last gasp. Looking back at this round's market rhythm, funds quickly pushed prices higher after Monday's open, then after Friday's nonfarm payrolls data was released, the market formed a classic door-shaped move. The short-term sell-off was essentially a bear trap designed to catch positions that chased shorts at lower levels. BTC is now moving up again to test the key resistance area around the previous high of 87,200. Blindly chasing longs at this level now offers a poor risk-reward ratio and insufficient value. For now, the priority is to look for short opportunities.
BTC short at 86,800–87,500, with an initial target of 85,000; if it breaks down, look toward 83,800.
ETH short at 2,738–2,750, with an initial target of 2,650; if it breaks down, look lower toward 2,560.