#比特币对比代币化黄金 Thursday’s market action was quite interesting—the bulls and bears wrestled all day, but in the end the bears prevailed. Prices were range-bound and choppy during the day, then started to drop sharply in the evening, with the decline being steeper than expected. Bitcoin dipped as low as around 91,700, while Ethereum pulled back to the 3,130 level. The short positions set up that day were fairly accurate, netting a 1,800-point profit on Bitcoin and over 70 points on Ethereum. With market signals this obvious, those still waiting on the sidelines might need to adjust their pace.

From a technical perspective, downward momentum is accelerating along with increasing volume, and the bears are steadily building their advantage. On the four-hour chart, consecutive bearish candles dominate, with only sporadic rebounds that do nothing to change the bearish outlook—the overall structure is becoming clearer. On the hourly chart, we see a choppy downward trend, with a cluster of bearish candles and the MACD showing persistent bearish divergence with increasing volume. Bearish momentum remains very strong. Any brief rebound within this trend is essentially a technical correction, providing perfect entry points for trend-following shorts. For subsequent trades, it’s recommended to focus on opening short positions near rebound highs and stay aligned with the main trend.

Reference range: Short Bitcoin at 93,000–93,500, targeting 90,000; short Ethereum at 3,189–3,210, targeting 3,000. $BTC