Last night, Bitcoin's long positions from the current price of 868 were partially closed at 881. The remaining positions continue to look for a breakthrough to a new intraday high. Follow the previous risk management points and hold the position.

From the overall market pattern, a clear consolidation range has formed. Bitcoin repeatedly faces resistance around the 90,000 level and pulls back, while Ethereum remains unstable above 3,000. Particularly important is that Ethereum has been oscillating between 3,050 and 2,900 for a full 10 days. The price action and correction pattern are exactly the same as the late August to early September wave (around 4,500 to 4,200), both belonging to a typical trend consolidation phase.

Before a substantial directional choice appears, the trading mindset must switch to a defensive mode. Protect capital through strict position management and reduced trading frequency, patiently waiting for the market to complete its consolidation and re-establish a direction. Frequent trading at this stage will only accelerate capital loss. It is better to wait for clear signals and look for high-probability trading points at key levels.

Today, Bitcoin can consider short positions between 89,200 and 89,800, with the first target at 87,800. If it breaks below effectively, further downside could target 87,200 to 86,500.

Ethereum today can consider short positions around 3,030 to 3,050, with initial targets at 2,960. If it breaks through effectively, look further down to 2,930 to 2,890 for support.

Currently, the market shows weak oscillation characteristics. Although there is a short-term technical rebound demand, the overall trend remains dominated by bears. The trading strategy should focus on shorting at rebound levels when high.

Bitcoin's daily chart shows a small inverted hanging shadow candlestick. Today’s opening is below the middle Bollinger band. The upper and middle bands are diverging downward, indicating ongoing medium-term pressure. However, the lower band has not fully opened downward space, and there is clear daily support around 85,000. The opportunity for a direct short is not yet mature.

The 4-hour chart shows that the rebound is continuously suppressed by the middle band. The MACD bearish momentum histogram is expanding, indicating a short-term weak trend. However, the 1-hour chart shows different signals—Bollinger Bands are tightening significantly, the lower band is rising, MACD bearish momentum is shrinking, and some indicators are entering oversold territory. This suggests a short-term technical rebound is indeed possible.

In summary, the market is currently in a state of opposition between a weak trend and strong rebound demand. The strategy should be to patiently wait for the price to rebound near key resistance levels, then look for higher-probability shorting opportunities. Avoid blindly shorting at low levels or chasing gains without confirmation.