12.6 Early Morning Silk Road

Reviewing the intraday market situation: In the early morning, BTC overall showed an upward trend, reaching a high of 92,665 before retracing. In the evening, the price dropped to a low of around 89,863. ETH's overall movement was similar to BTC's, reaching a high of 3,192 in the morning, then declining toward the evening, with the lowest point around 3,081.

From the chart structure, the daily level has repeatedly failed to break above the mid-upper band, forming a clear double-top pattern. After consecutive rebounds, momentum is completely exhausted, and the previously rising low trend is showing signs of reversal, indicating the foundation for a market rebound has completely collapsed. On the 4-hour level, there is narrowing consolidation with doji candles—not balanced, but rather the market is accumulating downward strength. Continuous surges followed by pullbacks show that the resistance above is unbreakable. The directional move after the Bollinger Bands narrow is never a weak reversal; currently, there is multiple resistance overhead, and the seemingly dense support below is actually fragile. A strong downward move is imminent.

Trading suggestions
BTC: Short around 89,000-89,200, target around 87,500
ETH: Short around 3,040-3,060, target around 2,950