1.9 Afternoon Bitcoin and Ethereum Market Analysis and Trading Suggestions

The four-hour chart shows that after a brief rebound, the price faced resistance at a key pressure level and halted, with the rebound strength failing to effectively trigger a trend reversal. The Bollinger Bands continue to remain in a downward opening posture, with the middle band steadily declining, indicating that the bears still dominate the overall market structure. Although the MACD histogram shows a narrowing trend below the zero line, its double-line death cross remains stable, reflecting that the previous rebound was only a corrective adjustment and did not fundamentally change the bearish pattern.

From a shorter time frame perspective, the market is currently in a narrow-range consolidation, with prices oscillating around the middle and upper bands of the one-hour Bollinger Bands, and neither bulls nor bears showing clear breakout momentum. However, the short-term moving averages are beginning to turn downward, and the selling pressure above is significantly increasing. Support below is relatively weak, and the market exhibits a "time for space" consolidation characteristic, gradually accumulating downward momentum.

Overall, the weak rebound and the bearish alignment of key indicators both suggest that the current market bears still hold the advantage. Trading-wise, it is advisable to focus on short positions after a rebound faces resistance, paying close attention to the performance of the resistance area above. If the price cannot break through and stabilize above that zone, the downward trend is likely to continue.

In the afternoon, consider shorting Bitcoin around 91,600, with a target of 89,500.

In the afternoon, consider shorting Ethereum around 3,140, with a target of 3,050.