#美联储恢复降息进程 This wave of movement in the early morning is indeed exciting. The price first dropped to a low of 83822, and the long positions didn't hesitate and directly pumped it back, reaching a high of 86860 before starting to move sideways. Ethereum also followed suit, rebounding from 2716 to around 2814 and then taking a break.

Yesterday, a team seized this round's rhythm - after making a small profit on long positions, they directly flipped to short positions, making 7385 points on Bitcoin shorts, and also gaining 269 points on Ethereum. The 90000 level had been repeatedly reminded before, as it is a key support level; if it breaks, we need to look bearish in line with the trend, initially aiming for 87000. This logic was also emphasized during the morning recap, and friends who kept up with the rhythm should have profited.

Now let's look at the technicals. Bitcoin's four-hour chart has seen two consecutive bullish candles after a stop at 83786, but this is merely a weak recovery, with prices still trapped in a downward channel. The bearish pattern remains unchanged, with short-term moving averages continuing in a bearish arrangement and the middle band of the Bollinger Bands pressing down. This rebound? To put it simply, it's just a breather, not a trend reversal.

The hourly level is more obvious—Bollinger Bands are converging, the three lines are moving sideways, and it is highly likely to enter a narrow range of fluctuations. Although the K-line is climbing up supported by the lower band, the pressure from above is too evident, and the rebound space is limited. Although the MACD has formed a golden cross at a low level, the slope is very flat, indicating weak momentum. This kind of fluctuation is a technical adjustment in a bearish market and does not have the conditions for a reversal.

From the overall multi-period structure, the market is still running in a bearish direction. The morning operation suggests focusing on shorting on rebounds, but it is important to pay special attention to Powell's speech at nine o'clock this morning. The Federal Reserve's statements may trigger short-term volatility, so be sure to be alert to market fluctuations and strictly control risks during operations.

Specific point of reference:
Bitcoin: Short positions in the range of 87000-87500, targeting 84000.
Ethereum: Short positions set in the 2800-2830 range, targeting 2650.

The expectations for the Federal Reserve to restart the interest rate cuts are still fermenting, and the impact on the cryptocurrency market needs to be continuously observed.