1.7 Evening Market Speed Read

Bitcoin plummeted from 93700 all the way down to 91500 before barely stabilizing. Now it's oscillating repeatedly in a narrow range with little momentum.

Looking at the hourly chart, the Bollinger Bands middle band and upper band are both continuously declining, with no signs of the slope narrowing—this indicates the bearish force is far from exhausted. Although the lower band is still present, it's only passive support, hardly qualifying as real support. Each upward rebound attempt is weak, with even the middle band turning downward. Bulls have no real fighting power at the moment.

My assessment is straightforward—don't try to catch the bottom at this level.

Trading Strategy:

For Bitcoin, short from the 92800-93800 range, targeting the 91000-90200 lower zone.

For Ethereum, short from the 3260-3310 range, targeting downside space toward 3150-3100.

The current rhythm remains in the hands of the bears. Rather than treating short-term rebounds as reversal signals, it's better to view them as better entry points. Don't let fear drive you to chase highs; what you really need to guard against is trading in the wrong direction.

Whether to follow or hold steady is your choice. I've said all that needs to be said—the market will provide the answers.