Breaking down the market from the four-hour cycle chart, the current MACD indicator structure is clearly biased bearish. Both the DIF and DEA moving average lines are consistently running below the zero line, indicating that the overall market is in a weak range dominated by short-side pressure.

The two lines continue to maintain a death cross and further diverge, with the downward pace continuously intensifying. At the same time, the MACD green bearish momentum histogram bars continue to expand in volume, and there is no obvious signal of contraction or stabilization, meaning short-side strength is still being released.

From the perspective of the overall indicator structure, at this stage the so-called “long side” has not formed effective counterattack momentum. The overall higher-timeframe downtrend has not undergone any substantial reversal. There is heavy sell pressure overhead, and the downward pressure has not been lifted. The market will most likely continue to follow a weak, range-bound and drifting-to-downward rhythm.

btc short near 60200-60800 area, down to 59200-57600

eth short near 1590-1630 area, down to 1550-1480