Last night, the Bitcoin price trend met expectations and showed an upward surge, reaching a peak of 106400 before facing resistance and retreating during the early hours. Subsequently, selling pressure gradually released at the high level, driving the price to continue a downward oscillation trend, with the lowest point currently dipping to around 105511, where bearish momentum has somewhat weakened, and the price is momentarily consolidating around 105600. Ethereum followed suit, with the price rising to a high of 2548 before facing resistance and retreating, currently touching a low of 2497, showing initial signs of stabilization in the short term.

From the current market perspective, the Bitcoin 4-hour chart indicates that the previous stepwise rebound faced significant resistance upon reaching the upper bound of the upward channel, leading to a high-level sideways oscillation pattern. This trend reflects a depletion of short-term upward momentum and serves to accumulate energy for subsequent directional choices. Observing the hourly level, the Bollinger Bands are in a state of contraction, with the current price effectively breaking below the middle band support and approaching the lower band area, with the momentum structure leaning towards bearish, indicating that the short-term may continue a weak oscillation rhythm. Given that the current rebound peak has been confirmed, the operational strategy suggests focusing on short positions in the short term, considering adjusting the trading direction only after the price stabilizes in the support area.

In the morning, Bitcoin can be shorted in the range of 106000-106500, with a target near 104000, while Ethereum can be shorted in the range of 2530-2550, targeting near 2420. #比特币 $BTC