Based on the four-hour trend, Bitcoin experienced a significant rally and broke through the middle band, forming two consecutive bullish candles. It then quickly retraced, and the current market is in a stalemate phase with both bulls and bears consolidating. Although there is a short-term rebound and correction, the price is still fluctuating within the triangle range. If no major positive news emerges, the overall downward trend will not change.

On the hourly chart, after a large bullish candle, there was a brief buying surge, followed by a medium-sized bearish candle that wiped out most of the gains, bringing the price close to the middle band again. Although the support at the middle band has not been effectively broken yet, the trend of the KDJ indicator, along with the MACD histogram turning from red to green signals, all indicate that a breakdown is only a matter of time. In the short term, the outlook remains bearish, and it is recommended to wait for a rebound to go short.

Trading suggestions: Short Bitcoin at 88200-88700, targeting 86200-86700; short Ethereum at 2950-2980, targeting around 2850.