In the afternoon session, Bitcoin bulls exerted strong force, with trading volume significantly increasing, and the price surged to around 107,300. However, upward pressure became evident, and the bullish momentum faced obstacles. As evening approached, the market experienced a minor pullback, which is a normal adjustment after the surge. The current price has retraced to the 106,500 level, and after finding support, it is trapped in a high-range oscillation, with bulls and bears repeatedly battling around key price levels in this range. In the afternoon, we suggested a bullish setup near 106,600. Although it did not reach our target price, we still gained nearly 600 points. Ethereum also made a rebound in the afternoon, rising to a peak of around 2,637. Subsequently, it pulled back in the evening, stopping the decline at around 2,590, with the current market recovering some ground and oscillating around 2,610. Overall, it follows the trend of Bitcoin, but relatively, the recovery strength after the pullback appears slightly mild.

In the morning phase, the candlestick chart displayed alternating small bearish and bullish patterns, with short bodies and limited shadows. Both bullish and bearish forces were in a stalemate, with prices oscillating near the 105,000 mark, which is a typical low-level oscillation accumulation pattern. In the midday session, bullish forces suddenly erupted, with consecutive long bullish candlesticks rising sharply. The candlestick strongly broke through the upper boundary of the previous oscillation range, with long bodies and extremely short shadows, showcasing the aggressiveness and determination of the bulls. On the technical indicator front, the MACD indicator synchronized perfectly, reinforcing the continuity of the upward trend from a volume perspective. The KDJ indicator also moved upward after a low-level golden cross, verifying the strong release of bullish momentum and pushing the price straight up to around 107,250. However, after reaching a high, the price entered an adjustment period. The candlestick pattern shifted to alternating bullish and bearish, with bodies gradually shortening and upper shadows appearing frequently. Some candlesticks even exhibited both upper and lower shadows, intensifying the divergence between bulls and bears. Indicators show that short-term bullish momentum is fading; overall, focus on the breakout direction of the short-term range, and in operations, first look for a rebound before shorting.

In the evening, Bitcoin can be lightly shorted in the range of 107,000-107,500, targeting around 106,000; for Ethereum, short in the range of 2,630-2,650, targeting around 2,550. $ETH $BTC