After a recent rebound, the price has entered a high-level consolidation phase. The current market shows that Bitcoin failed to maintain a strong upward trend after breaking through key resistance, instead engaging in fluctuations around previous highs. The hourly K-line has tested the upper pressure zone multiple times but failed to form an effective breakthrough, intensifying the short-term tug of war between bulls and bears. Volume shows signs of moderate contraction, indicating a cooling of market enthusiasm for chasing prices, with some funds choosing to stay on the sidelines. This high-level consolidation pattern usually indicates that a directional decision is approaching, and one should be cautious of reversal signals.

From a technical structure perspective, the pressure formed by the dense trading area above remains significant, and repeated attempts to rise have shown that bullish momentum is gradually weakening. Although the MACD indicator is still in the bullish zone, the slopes of the fast and slow lines are flattening, and the histogram volume is decreasing, suggesting insufficient sustainability for short-term price increases. If the price cannot stabilize above the previous high, one should guard against the risk of a pullback. It is not advisable to blindly chase highs; instead, one can wait for support retests or effective breakthroughs before following. Short-term support should be focused around recent lows, and a break below may open up room for a correction. Current market sentiment is sensitive, so it is recommended to control positions and ensure risk management.

BTC 88800-89000 short, target down to 87000

ETH 1650 short, target down to 1600