There is never a shortage of opportunities in the market; what is truly scarce is the patience to wait and the courage to execute plans. Not greedily chasing the last point, nor fearing to stay in cash and wait—going against human nature—this is the way to survive longer in the crypto circle.

Yesterday’s daytime movement was quite interesting. Bitcoin rebounded from around 87,787 in the morning, surged to about 90,088 at noon, but faced resistance here, showing some difficulty in breaking through. It started gradually declining in the afternoon, and by evening, it fell back to around 88,109. Ethereum followed Bitcoin’s rhythm, starting at 2,910 in the morning, rising to 3,001 at noon, but failed to stabilize, and dropped to 2,900 in the evening.

From a four-hour perspective, the overall trend remains within a downward channel, with the main trend not broken. After a quick decline earlier, the price formed a clear low at around 87,700, followed by a rebound. But honestly, this rebound is mostly just a short-term correction of market sentiment, not a sign of trend reversal. Currently, the candlesticks are oscillating in the lower part of the downtrend channel, with the moving averages pressing down from above. After bouncing near 90,000, the momentum has significantly weakened, indicating that there is still considerable selling pressure, and the bears are still in control. The market has entered a consolidation phase after the decline.

Looking at the one-hour chart, there was indeed a volume-increasing bullish rebound, quickly pulling the price back to around 90,000 from the lows. But then the candlesticks started to shrink in volume and consolidate, lacking the strength to continue upward. This reflects that the bulls’ follow-up willingness is insufficient. The rhythm of this one-hour move is “sharp rise, slow decline,” basically short-term funds playing a rebound game, not trend funds entering. As long as the price cannot effectively break above the key resistance level, this rebound should still be viewed as a weak rebound. Overall, the current market is in a technical retracement and correction phase after a decline, with the main direction still leaning towards sideways and bearish.

In practical trading, it’s not recommended to chase longs. A safer approach is to wait until the rebound encounters resistance, then look for a trend-following entry opportunity. Bitcoin can consider short positions around 88,300, with a target of 86,000; Ethereum can short around 2,950, with a target of 2,700.