#美联储回购协议计划 Looking at this bearish setup, many friends should have already felt it. In such a fierce decline, did you follow along? Entering short positions at high levels in the morning worked well—$BTC once surged to around 87,800, and ETH reached the 2,976 level, but then it was pushed back as expected. The Bitcoin price dipped to around 86,700 at its lowest, while ETH fell to the 2,916 level.

Although there is some rebound and correction now, the strength is clearly insufficient, and the rebound appears somewhat weak. From the four-hour chart, there have been three consecutive bearish candles, with the K-line continuously guiding the market downward. The lower band of the Bollinger Bands is opening wider, with a clear downward expansion trend—this is a sign that the downtrend channel is opening. The bearish pattern is fully developed.

On the technical indicators, the MACD shows a bearish divergence, which is quite convincing. The histogram is mostly occupied by red bars, indicating a very strong bearish sentiment in the market. The death cross continues to widen, showing that the bearish momentum is quite persistent. The outlook remains bearish moving forward.

Short-term target levels: $BTC towards 86,000, ETH towards 2,870.