$BTC Based on the current market structure, this round of Bitcoin's trend belongs to the technical recovery phase after a sharp decline. On the four-hour level, the price has formed a significant lower shadow near the previous low of 81000, indicating that preliminary support has emerged in the lower area; however, the overall price is still running below the middle line of the Bollinger Bands, and the moving average system maintains a bearish arrangement. Therefore, this rebound can only be defined as a technical pullback within the downtrend, rather than a trend reversal signal. Observing the one-hour level, the rebound volume shows a gradually decreasing trend, and the price is repeatedly oscillating around the 84000 line, with obvious insufficient upward momentum. If it cannot achieve effective volume and stabilize at this key price level, there remains a technical risk of a second pullback. In terms of overall operation rhythm, it is recommended to grasp key positions relying on the rebound range, and to wait for a clear direction before making decisions.

Bitcoin can be shorted in the range of 84200-84700, targeting around 83000; Ethereum can be shorted in the range of 2710-2730, targeting around 2650.