Intraday market fluctuations are indeed easing. Bitcoin overall rebounded from the 71,200 level this morning, but then faced pressure and fell back. In the afternoon, the price continued to pull back, giving support and rebounding after reaching around 70,500. Overall, the price recapture above is not expected to be very strong. The key focus is still on whether the bottom support structure will break. As for Ethereum, earlier in the day it rebounded to around the 2,207 area, but faced resistance and pulled back. In the afternoon, it again retested around 2,180, stopped the decline, and rebounded. At present, it is still oscillating and consolidating around the bottom support structure.

Overall, the current phase has already formed a weak adjustment structure, with highs gradually moving lower. Although the short-term bottom has shown some degree of support strength, because during daytime the bears are in a low-volume phase, the evening session—driven by the opening of US stocks—will lead to the market’s movement. From the four-hour chart, the bottom has now shown consolidation signals that suggest short-term bottoming. In terms of indicators, KDJ is in a low position, at the stage of a thick, sticky golden-cross-related rebound, with room for a rebound. However, given that the recent market overall is operating under relatively bearish news, the bulls expanding positions will still be in a relatively low-volume state. In the short term, continue to watch for a break of the trendline during the rebound. The trading suggestion remains mainly to look for shorts from higher levels.

Bitcoin can be shorted at 71,000–71,500, targeting 70,450–69,300. Ethereum can be shorted at 2,190–2,210, targeting around 2,130. #加密市场小幅下跌 $BTC $ETH