$BTC 4.9 Bitcoin and Ethereum Market Analysis and Trading Suggestions for Nighttime

Although the four-hour timeframe has repeatedly formed lower wicks, appearing to have solid support, the repeated testing of lows itself indicates limited buying willingness, more like passive defense by the bulls rather than active attack. The current pullback is not simply a correction after a rally but an early sign of waning upward momentum—after a previous surge, no effective sustained volume increase has been formed, and instead, there are clear signs of distribution at high levels.

In the short term, 71,500 as a breakout point of the previous high has been repeatedly tested by the market. If it revisits this level again, its support strength will be significantly weakened. As long as the rebound cannot stabilize above 71,500, the overall structure remains within a controllable bearish zone. On smaller timeframes, the rebound strength is gradually weakening, with decreasing candle body sizes and increasing upper shadows, indicating that bullish enthusiasm is cooling off, and the short-term trend has shifted from strong to weak.

In terms of trading, blindly going long is not advisable; more attention should be paid to shorting opportunities after the rebound loses momentum. If the price tests near 71,500 again but cannot break through or directly falls below the intraday support lows, it can be seen as the bulls’ defense line collapsing. At that point, follow the trend and go short, targeting lower support levels. Until the bearish structure is broken, any rebound is merely a correction within the downtrend. #加密市场小幅下跌