From the perspective of the current market landscape, the foundation for a medium to long-term upward trend remains solid. However, in the short term, the market is caught in a fierce standoff between bulls and bears, making it difficult to determine a winner. Reviewing the overnight market, despite a pullback, the key support level has not been breached, and the bearish forces have not been fully released, making it hard to form a substantial and effective breakthrough. Through daily technical analysis, it can be observed that the market is still in the process of constructing a rebound pattern, and the bullish forces have not accumulated enough momentum to push the price to achieve a breakout upward.

From a technical analysis perspective, there is currently some support near the middle band of the Bollinger Bands, but the resistance above is equally strong. This dual pressure pattern significantly limits the volatility of the market. In the absence of major positive or negative news shocks, it is expected that the market will likely maintain a narrow fluctuation trend in the short term.

Based on the current market situation, Bitcoin has rebounded to the upper edge of the fluctuation range. Today, it is advisable to consider short selling at highs, waiting for the price to retrace to the support level below, and then consider establishing long positions. Before an effective breakthrough occurs at key resistance and support levels, it is more prudent to adopt a strategy of buying low and selling high within the range.

Bitcoin near 98500-99000, looking down to 96000-96500

Ethereum 1900-1860 short, looking down to 1800-1780