Don't complain about entering the market too late; the crypto cycle is always revolving. While some stand at the peak, others sow seeds at the bottom; some are harvested by volatility, while others break through with patience. The important thing is not where the starting point is, but whether you can maintain your rhythm amid fluctuations and stay clear-headed during madness. Over the weekend, the bullish and bearish forces in the market entered a fierce battle, but most of the time it was oscillating within a narrow range. Today, Bitcoin initially continued its downward trend, reaching a low of 87504. After that, the bulls began to rebound and recover, forming an acceleration in the midday, with the highest reaching 89972. Ethereum similarly moved down initially, touching a low of 3052, then started to rebound strongly, with the strongest rebound reaching the 3150 level before stopping. Our short positions near 89300 in the early morning were taken as planned, earning 1500 points for Bitcoin. The short positions near 3100 in Ethereum exited after capturing 50 points in the early morning. This aligns with our bearish outlook given earlier.

On the 4-hour chart, the market previously experienced a series of red candles, indicating a correction driven by the bears dominating. However, intra-day, the trend dramatically reversed, forming a large bullish candle and a rebound pattern. This rebound started from the lower band of the Bollinger Bands and ultimately tested the middle band resistance. During this process, the Bollinger Bands showed a clear opening and expansion. Although short-term technical indicators suggest bullish strength, considering that the price has already approached the middle band resistance and the oscillators are showing overbought signals, the market still needs a technical correction, and it has already reached key resistance areas above. Lao Chen remains firmly bearish; even if we are wrong, we will bet on the bears. The bearish outlook remains unchanged for the midday.

Bitcoin can be shorted around 89500-89800, with targets at 88000-87000.
Ethereum can be shorted around 3140-3160, with a target at 3000.