#以太坊大户持仓变化 1.12 Morning Market Analysis: Technical State of Bitcoin and Altcoins

Looking at the four-hour chart, this market is essentially consolidating sideways, but this balance is false. The Bollinger Bands have flattened, seemingly giving bulls and bears a breather, but in reality, the main players are deliberately stalling, testing traders' patience.

In the short term, bulls and bears are probing each other, but volume has yet to produce a decisive direction—this is a typical consolidation pattern in a downtrend. To put it simply, the real signals depend on the larger timeframes.

From the overall pattern, the dominance of the bears remains unchanged. The rebound is weakening, and the upward moves lack follow-through; this is more about emotional recovery than a trend reversal. Prices can bounce back, but structural constraints limit their upside potential. Technically, downward momentum is much stronger than upward.

The conclusion is quite clear: this sideways range is not a bullish reversal signal but a buildup of strength by the main players for the next wave of decline. Instead of wavering, it’s better to stick to the strategy of shorting on rebounds and establishing short positions at higher levels. Riding the trend for profits is the most stable and profitable approach.

**Trading References:**
$BTC: Enter short positions in the 92000-92600 range, target 90500 and 90000, with a break below targeting 88000
$ETH: Enter short positions in the 3150-3180 range, target 3060, with a break below targeting 3000