The sharp decline is essentially a reshuffle—impetuous retail investors cut their losses and exit, while confident veterans quietly build positions. Yesterday's market movement illustrates this point.

Bitcoin retraced from the high of 95481 down to around 91816, then rebounded to the 93300 range for consolidation. Ethereum followed the rhythm, falling from 3367 to 3175, then rebounding to around 3220. It looks like a rebound, but a close look at the technicals reveals where the problem lies.

The early trading session was sluggish, with Bollinger Bands tightening, and the price repeatedly pressured below the upper band and the crossover point of MA220/MA30. Want to break through? Difficult. The market now faces three clear danger signals.

First, MACD. Although it formed a bullish crossover above the zero line with increasing volume, it seems strong, but the problem is—price hasn't moved at all. This is divergence, a classic weak signal. Meanwhile, RSI has already formed a death cross downward, approaching 30, indicating that the bulls are losing strength.

Next, support levels. Yesterday's low and the 4-hour MA120/MA500 form a critical defense line. Once broken, it directly leads to the crossover point of MA450/MA180 below, which means a real decline is imminent.

Finally, the most critical point is the second divergence with volume appearing below the MACD zero line—this is a typical short-signal. KDJ and RSI are also weakening simultaneously, forming a bearish resonance. All three indicators moving in the same direction make the situation serious.

Overall, in the short term, downside risk clearly dominates. The trading strategy is simple: short on rallies, don't be greedy.

Specific levels:
Bitcoin short around 93000, target 90000
Ethereum short around 3250, target 3000

Once key support levels are broken and confirmed, react quickly.