After Bitcoin surged to around $94,800 in the early morning, it faced obvious resistance and then entered a retracement mode. The morning market continued its weakness, with clearly insufficient rebound momentum. The short positions set at $94,000 earlier can still be held. Ethereum followed closely, with its oscillation range also narrowing.

From a technical perspective, the situation is not optimistic. Both Bitcoin and Ethereum left long upper shadows when attempting to hit the upper Bollinger Band, indicating heavy selling pressure at high levels and that this breakout failed to stabilize. Looking at the 1-hour K-line, Bitcoin has already broken below the middle Bollinger Band, and indicators like MACD and KDJ also point downward. These signals combined clearly indicate a short-term weakening trend.

The trading strategy for the afternoon is quite clear—rebounds are opportunities to short, and chasing longs is too risky.

Specifically, for Bitcoin, focus on the $94,000 to $94,500 range, gradually entering short positions, and then aiming step by step toward the target zone of $92,000 to $91,000. In this market state, rather than waiting for surprises, it’s better to manage risks well and seize more certain counter-trend opportunities.