Bitcoin has shown a typical pattern of sharp pullback followed by consolidation in its recent hourly movements. The price first experienced a rapid surge, with bullish momentum concentrated and driving the coin price swiftly away from the previous consolidation range. However, the upward momentum noticeably slowed down, and the price entered a high-level consolidation phase, attempting to push higher multiple times without success, forming a horizontal oscillation structure. During this process, trading volume gradually shrank, indicating insufficient market willingness to chase the highs, and a lack of new funds entering the market to support further breakthroughs in the short term.

Although the coin price temporarily maintains high-level oscillation, the technical indicators have shown signs of fatigue. From a structural perspective, the price has tested the upper resistance level multiple times and faced obstacles, forming a local double top pattern. If the key support level is lost, it may trigger profit-taking sell pressure. Furthermore, capital flow indicates a net outflow of major funds, and market sentiment is gradually turning cautious. Combined with the continuous divergence in the hourly MACD indicator, where the fast and slow lines are retreating towards the zero axis, short-term bearish momentum is accumulating. Caution is required for the risk of downward breakouts; if the lower edge of the consolidation range is broken, it may open up room for a pullback. It is recommended to remain on the sidelines or lightly short, with attention to the support strength in the 92500-93000 area.

Short BTC 94400, target looking towards around 92000

Short ETH 1820, target looking towards around 1770