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Bitcoin surged near 76,500 in the early morning and then quickly pulled back, facing significant resistance above, with rebound momentum exhausted.
On the 4-hour chart, the upper band of the Bollinger Bands continues to press downward, the price center keeps shifting lower, and the rebound lacks strength and volume support.
First, look for a correction.
Trading idea:
Short around 76,000-76,500 for Bitcoin, target 75,000-74,500.
Short around 2,320-2,340 for Ethereum, target 2,270-2,240.