The morning market showed a relatively clear upward push. Bitcoin oscillated and rose from around 66,300, followed by increased volume and a surge, reaching a high of 68,377 before quickly facing resistance and pulling back. It still failed to establish a solid footing above 68,000. Subsequently, the price gradually retreated to around 67,300 for consolidation, showing a pattern of rising and then giving back gains. Ethereum also moved higher, climbing from around 2010 to above 2090, but repeatedly faced resistance in the 2080-2100 range, unable to break upward momentum, then retraced to around 2050 for support. Overall, this upward move was mainly driven by sentiment and liquidity, with insufficient support at higher levels. The idea of shorting around resistance zones in the morning still has room to be realized. The market again indicates that without sustained volume support, the rise is essentially just creating conditions for high-level distribution.

From the 1-hour timeframe, although Bitcoin showed volume-driven upward movement during this rebound, it never broke through the key resistance zone formed earlier. After reaching the high, it repeatedly closed with upper shadows, indicating persistent selling pressure above. The current candlestick structure shows signs of a high point with stagnation and a slow downward shift of the center of gravity, typical of a failed rebound pattern. Looking at the 4-hour timeframe, the overall movement remains within the previous consolidation range. This surge did not change the overall oscillating pattern; instead, it looks more like a “false breakout + liquidity recovery” at the upper boundary. Volume has not accumulated into a trend, indicating that funds have not formed a consistent bullish expectation. Ethereum’s structure is synchronized with this. On the 1-hour chart, it repeatedly faced resistance in the 2080-2100 zone, forming a clear resistance area. On the 4-hour chart, it remains within the central oscillation zone, with multiple failed attempts to push higher, meaning increasing trapped positions above. Overall, there are no signs of a trend reversal in the larger timeframe. After repeatedly hitting resistance at key zones, the market gradually weakens, so the current strategy remains bearish, waiting for a pullback.