Good morning everyone!

Just as I was analyzing the one-hour chart at 6 o'clock closing, I noticed a slight acceleration downward. Bitcoin briefly touched the 92677 level before bouncing back to around 93000, where it was met with resistance. The entire retracement process looks like the main force is testing the support below.

Ethereum also followed the trend with acceleration. It touched the lower boundary support of the four-hour upward trend that started on December 19 last year, with a low of 3187.15, and after bouncing, it was similarly blocked around 3208. This small retracement feels somewhat like a test of the market.

Honestly, I am not very optimistic about a V-shaped reversal on the daily chart in the coming days. The main theme this week remains bearish. Especially important to note is that if Ethereum loses the 3160 level, I can be 100% sure it will continue to decline further. No doubt about it.

In this kind of market, I think even the most advanced techniques are useless. Trading back and forth, going short when prices go up and long when prices go down, feels pretty good. But in reality? Idealistic but tough. Making one wrong trade is equivalent to wasting all previous efforts. So, the key is rhythm. Especially for short-term trading, rhythm can determine everything.

My short position from yesterday at a high level is still holding, and I haven't closed it yet. I genuinely see bearishness in this market. If 3185 cannot hold, then there’s nothing more to say. My expectation is that this three-day bearish trend will at least reach the 3060 level.