Thursday morning — Jingyi’s thoughts: yesterday’s long-term shorts all took off.

In the early-morning market, the downtrend continued. The bears all launched, with Bitcoin’s long-term short positions cashing out at 4200 points, and Ethereum’s long-term short positions cashing out at 414 points. Bitcoin dipped to a new low of 590; afterward, the rebound reached 612. Ethereum, in sync, touched a low of 1551, then made a slight recovery to 1626. Rebound potential is also being provided—no matter which side you trade, it’s a “eat meat” type of rhythm. This rebound is only a technical correction after a rapid selloff, and the big bearish trend has not reversed.

From a technical structure perspective, the Bollinger Bands remain open downward, with price under pressure below the Bollinger middle band. The daily chart has printed a new stage low; all prior supports have turned into resistance. The four-hour downtrend channel is intact. Hourly bullish candles are thin, and the rebound strength is weak. After the adjustment ends, the market will move down again.

**Trading suggestions**
- Bitcoin: set up shorts in the 612-620 range. Targets: 601, 590. If it breaks down, look at 565-550 on the long-term side.
- Ethereum: short on the rebound in the 1630-1675 range. Target: 1600. If it breaks downward, look toward 1500, 1420#0成本拿2股SK海力士 .