Yesterday evening, the US stock market stabilized, and Bitcoin made a slight rebound. However, it can be seen that after touching the 26450 support level, the price quickly began to retrace. We also entered a short position at the current price. Although the downside space for Bitcoin's decline is not large, the low point of the price is gradually moving down. The MACD lines on the one-hour candlestick chart are opening upwards below the zero axis, and the bullish MACD volume is gradually weakening. If the price cannot break through and stay above 26350 between 12:00 and 2:00, then this round of upward momentum is likely to end.

In terms of overall operation, I told my friends yesterday that the current contradiction for Bitcoin lies in the positive impact of the halt in the face of the rising US fiscal deficit to hedge against the negative impact of the Fed's interest rate hike. The hedging market for risky assets and the US dollar is in a wait-and-see situation, and there will not be significant fluctuations in Bitcoin's volatility before Thursday. As the current price line lacks upward momentum and forms a situation of high-level selling pressure, the situation of continued decline is likely to expand further. It is advisable to enter a short position at the current price and look for a breakthrough below 26000!

Ethereum is showing signs of a rebound. The four-hour candlestick chart is running steadily along the midline of the Bollinger Bands, but the high points are continuously moving lower, and the upward momentum of the bulls is slowing down. If Ethereum cannot break through the 1600 level in the short term, the current position will be our best short entry point.

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