On Monday, the market fell across the board, with both Bitcoin and Ethereum showing a downward trend. Bitcoin exhibited weak performance during the day, briefly touching an intraday high of 117945 in the morning before entering a fluctuating downward channel, with almost no effective rebound observed during the day. By the end of the European session, it dipped to a low of 114605, with an intraday volatility of 2.83%. Ethereum's movement was highly correlated with Bitcoin, continuing to weaken after being pressured around 4533 in the morning, accelerating its decline to an intraday low of 4225 in the afternoon, with a maximum drop of 6.79%, demonstrating more severe fluctuation characteristics. The technical patterns of the two major mainstream tokens both showed a breakdown downward feature, with a strong bearish atmosphere in the market.

The current market exhibits a clear trend dominated by short positions. The four-hour timeframe shows that the market has maintained a downward trend with six consecutive bearish candles, with short momentum continuously diverging and encountering no effective resistance, fully opening up the downward space, establishing a one-sided downward trend. From a technical structure perspective, the entire trend is completely controlled by short positions, with weak rebound strength from the bulls, making it difficult to form an effective counterattack. Observing the one-hour level, after experiencing a deep dip, the market has shown a technical rebound, currently oscillating near the upper Bollinger Band. Although there has been a slight rebound during the session, the overall structure still reflects weak characteristics. Technical indicators present a divergent situation: the MACD histogram continues to expand below the zero axis, indicating that downward momentum is spreading; however, the KDJ indicator's three lines have formed a golden cross pattern in the short term, suggesting the potential for a technical rebound. In terms of future operations, the U.S. stock market is expected to have a slight rebound in the short term, but the overall downward trend structure remains unchanged, maintaining a downward outlook.

Bitcoin can be short positions in the range of 115400-115700, looking around 113500. Ether can be short positions near 4350, looking around 4150. #BTC#