Bitcoin has experienced a strong one-sided rally on the 1-hour chart, with prices continuously rising based on short-term moving averages, showing no significant pullbacks during this period, presenting a typical short squeeze trend. The buying force in the market has been concentrated and released, quickly warming up market sentiment, pushing prices to break through key round numbers consecutively, forming a steep ascending channel. Observing the momentum indicators, bulls have an absolute dominance during the upward process, with active short-term turnover of chips, indicating strong trend continuity.

Currently, after reaching a new high, some technical indicators have entered the overbought zone, and the short-term accumulated profits need to be digested through a pullback. It is expected that the market will enter a consolidation phase, with attention on the support of the previously broken dense trading area below. If the pullback process sees a gentle contraction in volume and does not break key support levels, there is a possibility of building momentum for further upward movement; conversely, if there is a volume breakout below support, caution should be taken for a potential deepening of short-term adjustments. In terms of operations, one can wait for a pullback stabilization signal to avoid blindly chasing highs.

BTC 93300 short, target 92000

ETH 1760 short, target 1600