The friends who took the bottom during this afternoon's rebound should have all gained some profit. In short-term trading, it's all about rhythm and speed—buying and selling quickly to catch a thousand-point move. Those who follow the trend are generally quite comfortable holding.

Looking at the 4-hour chart, Bitcoin has been continuously testing lower, with Bollinger Bands opening wider and the upper and lower bands diverging at an accelerating rate. Although the price briefly dipped below the lower band and then rebounded for correction, it clearly lacks upward momentum, and the bears still dominate the overall situation. The hourly chart confirms this more clearly—this afternoon, it once dropped to a low of 89,588, with Bollinger Bands continuing to open downward, indicating that the bearish force is definitely stronger.

From a technical indicator perspective, everything points to the same trend. The KDJ lines are stuck at low levels with no movement, and the golden cross signal has not appeared yet; short-term rebound energy is severely lacking. The RSI lines are below 40 and haven't touched the oversold area, indicating there is still plenty of room to go down. MACD is even more straightforward—its two lines are diverging below the zero line, with negative values expanding continuously, showing no sign of weakening the bearish trend.

The key now is whether the rebound can break through the middle band resistance. If it remains stuck at the middle band, the most probable outcome is continued decline, testing support levels around 89,000-88,500. Only a surprise breakout and a firm hold above the middle band could signal a shift to a consolidation or correction phase.

Tonight, the strategy remains to short on rebounds near resistance, carefully observe the performance at key levels, and operate accordingly. Specifically, consider shorting Bitcoin around 90,500-91,000 with a target of 89,000; and Ethereum around 3,130-3,150 with a target of 3,030.