#BTC 11.6 midday Bitcoin Ethereum market analysis and trading recommendations

Bitcoin and Ether once again linked yesterday, exhibiting a "deep V rebound" confirming a short-term bottom. Early this morning, the upward momentum continued but faced resistance, both pulling back after reaching highs. During the early hours, Bitcoin took the lead, surging to the line of 104997 before falling back under pressure, retracting to a low of 102684, and currently oscillating around 103500; Ether also surged to a high of 3485 before following with a correction, retracting to 3373, and is now consolidating around 3430. The overall trend shows a pattern of "surge - pullback - accumulation," with attention on the strength of the pullback and the effectiveness of support during the day. Gongzhong Hao: Sheng Dong discusses trends.

From the current market observation, the coin price is in a weak recovery phase after the decline, with overall rebound amplitude being weak and trading volume insufficient. On the four-hour level, the candlestick patterns alternate between small bearish and small bullish forms, forming a typical low-volume consolidation pattern. The key resistance level remains unbreakable, indicating heavy selling pressure in the core resistance area during the downtrend, and the bulls are unable to organize an effective upward attack, raising doubts about the sustainability of the rebound.

Reducing the cycle to the one-hour chart, the market has continuously closed bearish and effectively broken below the support of the Bollinger Band middle line, which visually confirms the validity of the resistance above. At the same time, the three lines of the Bollinger Band have changed from widening to horizontal operation, indicating that the market has entered a short-term consolidation balance state, lacking clear directional impetus in the short term. Overall, the bearish pattern in the market has not yet reversed, the rebound is weak, and the key resistance is effectively under pressure. The intraday operation suggestion is to prioritize the strategy of shorting on rallies.

You can short Bitcoin around 104000 at midday, targeting 102000.
Midday Ether can be shorted near 3460, targeting 3350.
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