1.7 Evening Market Speed Reading

Bitcoin plummeted from 93700 to 91500 before barely stabilizing, now oscillating repeatedly in a narrow range with no apparent momentum.

Looking at the hourly chart, both the middle and upper bands of the Bollinger Bands are continuously declining, with no sign of slope narrowing whatsoever—indicating that bearish momentum is far from exhausted. While the lower band is still present, it's merely passive support, hardly qualifying as strong support. Each upside rebound attempt is feeble, with the middle band itself reversing downward; bulls currently lack real fighting power.

My assessment is straightforward—don't attempt to guess the bottom at this level.

Trading Strategy:

For Bitcoin, initiate shorts in the 92800-93800 range, targeting the lower zone of 91000-90200.

For Ethereum, short between 3260-3310, looking for the downside space toward 3150-3100.

The current momentum remains firmly in the hands of 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 should really guard against is trading the opposite direction.

Whether to follow or stand aside—the choice is yours. I've said what needs to be said; the market will provide its own answers.