Last night's market trend has been in a proper upward trend after retracing around the 95000 mark. So far, the market has been oscillating between 95000 and 96500. Ethereum has clearly been on a one-sided trend, providing no counteraction space for the bulls and showing a continuous downward trend.

On the daily chart, there is a clear series of consecutive declines, and after this round of declines, there was a quick rebound, but the weak structure has not changed much. The rebound has not been sustained, and currently, there is a sign of stagnation in growth. After a sustained downtrend on the 4-hour chart, there has been a short-term reversal action, but the downtrend remains unchanged, and the trend is still in a weak structure. Therefore, the current rebound does not represent a change in structure, and the market remains in a weak structure. Overall, we can first look for a retracement.

Trading Suggestions

Short Bitcoin at 96500-96000 with a target of 94000

Short Ethereum around 3350 with a target of 3270

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