From a macro structural perspective, after quickly plunging south to test the support level near 98000, Bitcoin suddenly surged northward, embarking on a one-sided upward trend. In a short time, it raised the price back to around 108800, with an increase of nearly ten thousand points, leaving many people dumbfounded, as no one could ascertain where this upward momentum would end. As always, the market will not move in one direction indefinitely, and after this period of high-level fluctuations, it seems that the market is building a top. This repeated oscillation makes it hard not to doubt whether the upward momentum is lacking or if the bears are ready to take advantage of the situation. Therefore, considering the current circumstances, a southward strategy appears to be the more prudent choice in the short term.

From a technical pattern analysis, Bitcoin's two attempts to break through the upper bound of the ascending channel have failed, resulting in a clear M-top pattern, which is a significant reversal signal. Yesterday, the bears pushed the price down to around 106600; although there was a certain rebound afterward, the overall trend has started to change. Looking at the moving average system, the three moving averages are diverging downwards, with the middle line becoming the current key resistance level. For subsequent operations, one can wait for the price to rebound near the resistance level and decisively seize the southward opportunity.

Bitcoin 107500 - 108000 short, target at 106300

Ether 2500 - 2520 short, target at 2400. $BTC #Solana质押型ETF $ETH #风险回报比