Don't always rush to get results; planting and harvesting are not in the same season. Allow yourself to take your time, accept occasional clumsiness and temporary stagnation, just like flowers have their blooming period, you also have your own rhythm. Looking back at Thursday's overall market trends during the day, there was a significant range-bound fluctuation in the day. Bitcoin strongly surged to the 119265 level in the morning but faced resistance and pulled back, with the BTC price quickly retracting, falling over two thousand points and stopping at the 117050 level. In the evening, the BTC price again showed a slight rise before facing pressure. The upper pressure remains relatively strong, and multiple attempts to break through have not been effectively sustained. As for Ethereum, it pulled back to a low of 3505 in the morning. In the afternoon, bullish sentiment rose again, climbing all the way up to 3772.

From a technical perspective, today's market shows typical characteristics of a range-bound recovery. The evening rebound, while recovering the intraday losses, brings the price back to the upper boundary of the intraday volatility range, but it failed to form an effective breakout. It neither broke through the recent high resistance level nor changed the current pattern of high-level fluctuations, indicating that selling pressure from above remains, and the momentum for long positions lacks sustainability. Observing the formation, the price is still trapped within the high-level consolidation zone formed earlier, with multiple attempts to breach the resistance level encountering obstacles and retreating, presenting a "lack of strength in the upward push" situation, clearly showing high-level pressure characteristics. On the indicator level, short-term momentum indicators did not strengthen in sync during the rebound process and instead showed signs of a top divergence, suggesting that the rebound momentum may weaken. For the midnight market, focus on the strength of the pullback. If the price cannot stabilize above the current rebound high, it is likely to seek support at the lower boundary of the range, at which point the cost-effectiveness of high short strategies becomes prominent. At midnight, we still primarily focus on high shorts. An effective breakout above 120000 can trigger a reversal to long positions.

Bitcoin: Short around 119500, target 117000
Ethereum: Short at 3750-3730 Target 3630
#BTC# #ETH#