Thursday Early Morning Bitcoin and Ethereum Market Analysis and Trading Recommendations

Bitcoin price reached a high of 87,450 in the evening session before facing resistance and pulling back. Currently, it is consolidating around 86,980. Ethereum's afternoon trend is generally weak, gradually recovering from a low of 2,886 to around 2,937.

From the current market structure, the 4-hour timeframe shows that the price remains within a downtrend channel, continuously testing lower levels. Although bullish forces are attempting to intervene and reverse the trend, overall momentum is lacking. The rebound can only be seen as a technical correction to the ongoing decline, providing only short-term relief for the market. The Bollinger Bands are expanding outward, with the middle and lower bands continuously moving downward. The candlestick pattern shows a "two bearish candles sandwiching a bullish candle," indicating that the downtrend is still in progress. The 1-hour timeframe further confirms this; although there is a rebound with consecutive bullish candles, it fails to reach the upper resistance and quickly falls back, highlighting insufficient short-term bullish strength. As the lows gradually shift lower, a clear downward channel has formed. Until a strong upward surge signal appears, it is recommended to primarily operate on rebounds and short positions.

Trading Recommendations:
Bitcoin: Short near 87,500-87,800, target 85,000
Ethereum: Short near 2,960-2,980, target 2,800