Midday Thoughts

The upward momentum at the daily level has clearly slowed down. The price is oscillating repeatedly at previous highs without effectively breaking through key resistance levels, and the bullish momentum in the short term is gradually weakening. The moving average system has shifted from resonance uptrend to horizontal consolidation, the uptrend structure is loosening, and the market has transformed from strong bullish trend to high-level oscillation consolidation pattern. The phase uptrend momentum is insufficient, and there is a need for pullback and consolidation. The 4-hour chart shows a pattern of surging and then falling back, with price repeatedly testing and being rejected at the upper band of the channel. The short-term focus is gradually shifting downward, bullish attacking power continues to weaken, and the technical picture is gradually turning toward weak oscillation.

Currently, the overall market is under pressure at high levels with shrinking volume. Any intraday minor rebound is merely technical correction, not a trend reversal signal. Selling pressure from above is heavy, and the willingness of capital to chase highs is weak. The short-term pullback momentum is gradually expanding. The main force is mainly conducting oscillation washout and digesting high-level chips. Trading strategy today has shifted toward shorting during rebound resistance, with following the trend for high-level shorting as the core strategy.

Operation Suggestions

Bitcoin at 72300 nearby, short position, target around 70000
Ethereum at 2140 nearby, short position, target around 2080