There is no such thing as a bullish trend that only rises and never falls, and there is no such thing as a bearish trend that only falls and never rises. Yesterday’s intraday rebound failed to break the earlier high—this was already a signal to set up a short. Today’s second push higher also failed to continue breaking above the high, which further confirms the bearish foundation. With the 85,000 support level broken, the broader market has already formed an accelerated downswing. At this point, the key focus is the strength of support near 82,800, where the prior upward pressure is expected to turn into support. In the evening, continue to look for bearish follow-through. As for targets, first focus on around 82,800. If it can hold, there is a chance to see a new wave-shaped rebound. If it breaks, the room for further pullback will widen. For the next level, watch around 80,500.

For the evening strategy: at the current price of 84,400, open a small-position short; add to the short at 85,000. Target: 82,800.

For Ethereum: at the current price of 2,670, open a small-position short; add at 2,710. Target: 2,550.

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