Every vibrant blossom has weathered turbulent waves; every bright and eye-catching sight has withstood the storms. Only those who have experienced everything understand the power behind it. The Bitcoin market has been in a trend of oscillating upwards at midnight, rising from the low point of 96756 to the high point of 98662, and then the market retreated. Ethereum also rose to the high point of 2767 at midnight before falling back to the low point of 2720.
From a four-hour perspective, the market has broken through the upper band of the Bollinger Bands to reach previous highs, but has not exceeded the high point, increasing the likelihood of a short-term pullback. Based on previous market movements, it still follows the pattern of rising and then retreating. The hourly RSI is around 70, close to overbought, and the daily level has rebounded from 42 to 51, indicating an increase in upward momentum. EMA: 7EMA > 30EMA, and there is still a gap compared to the 120EMA trend. The short to mid-term upward trend is good, especially with the support from short-term moving averages. Currently, bulls have a certain advantage in the short-term trend. This morning, pay close attention to the level of 98500; if stability is not achieved above this level, a pullback is expected. It is recommended to remain observant until stability is established; if opportunities arise later, consider setting up short positions at high levels.
Bitcoin can go short at 98500—99000 with a target of 97000.
Ethereum can go short near 2760 with a target of 2660.