Market participants often reveal their true nature at two moments — whether they can remain rational during times of panic, and whether they can make firm decisions when everyone is wavering. This is the dividing line between stable profit-makers and volatile losers in the crypto world.

This morning, the overall crypto market entered a narrow consolidation. After Bitcoin surged strongly to 87,849, it faced resistance and then plunged into range-bound fluctuations, bottoming out at around 86,738 to stabilize, with a daily range exceeding 1,000 points; Ethereum followed closely, rising from 2,976 before consolidating, with a low of 2,916, and an intraday volatility of about 60 points.

Looking at the technical side, the situation warrants caution. The 4-hour chart has shown three consecutive bearish candles, forming a clear resistance pattern. The lower band of the Bollinger Bands continues to diverge downward, indicating that the downward channel is steadily expanding, and the trend structure remains intact. More importantly, MACD has shown a bearish divergence resonance, with the bearish momentum bars below the zero line continuously enlarging, and the death cross indicator opening wider. Multiple technical signals are colliding, indicating a very strong continuation of the bearish trend.

Although there are intermittent technical rebounds, trading volume is shrinking, and rebound momentum is clearly weakening. The overall market remains in a weak state, oscillating.

Based on the current technical performance:

Bitcoin is recommended to consider short positions around 88,000, with a target near 86,500.

Ethereum is recommended to consider short positions around 3,000, with a target near 2,850.