The early trading session saw wide-ranging fluctuations again, with Bitcoin initially suppressed then rallying to around 89,900. Ethereum followed suit with a rebound to the 3,150 level, but both faced resistance and pulled back, with bulls and bears once again locked in a tug-of-war.

From a technical perspective, Bitcoin's daily chart shows diminishing bullish momentum, with the lower end of the retracement zone providing short-term support. The four-hour chart formed four consecutive bearish candles before rebounding and closing higher, touching the middle band of the Bollinger Bands, which acted as resistance and caused a pullback, leaving a long upper shadow. The bearish structure remains unchanged, and the high-volume consolidation hints at potential trap signals. The hourly chart shows bulls regaining half of the decline, with the long upper shadow confirming effective resistance. The price approaches the middle band of the oscillation range, with a breakout momentum, indicating a short-term slightly strong oscillation trend.

Overall, the major downward trend remains unchanged. Considering market sentiment and trend inertia, the afternoon trading strategy is to short on rebounds.

Bitcoin: Short around 90,000, target 87,000
Ethereum: Short around 3,150, target 3,000
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