It's not time to bottom fish; treat rebounds as high shorting opportunities!

Bitcoin surged twice to around 96,500 yesterday, then retraced, dipping to around 92,400, with a pullback of nearly 4,000 points. It rebounded from late night to morning, and the current price is around 94,500. Those who held short positions from yesterday at 93,000, 94,000, or 94,500 can continue to hold, as the trend remains bearish, with no signs of a bottoming out.

The daily K chart for Bitcoin is under pressure from the middle Bollinger band, with three consecutive bearish candles moving lower, showing no signs of halting the decline. In the short term, the 4-hour chart is also under pressure from the middle Bollinger band, oscillating downward. For those without short positions, today’s rebound around 96,000 can be treated as a shorting opportunity, but since it's a holiday in the U.S., and there's a celebration going on, the volatility is expected to be limited in the next couple of days. Therefore, focus on short-term trades without overextending! During the day, focus on shorting around 96,000 and 97,500, with targets looking down at 93,500, 92,500, and 90,500. If you shorted at 93,000, 94,000, or 94,500 last night, just add to your short at the rebound around 96,000, with the same targets above!

Ethereum took the opportunity to catch up while Bitcoin was consolidating, and is now around 3,420. It’s obviously not suitable to chase long positions here, as any drop in Bitcoin will certainly drag Ethereum down. Look to short around 3,470 and 3,520 today, with targets looking down at 3,370 and 3,270.