Market always starts in despair, rises hesitantly, and ends in madness; others are fearful, I am greedy; others are greedy, I am fearful.

Yesterday, Bitcoin perpetual contracts showed a bottoming out and rebound followed by high-level consolidation, with the price bouncing after touching the low of 76,504 but encountering obvious resistance in the 78,600–78,700 range, ultimately closing around 78,240; currently, the Bollinger Bands indicate the price is above the middle band, slightly strong in the short term but lacking breakout momentum, attention should be paid to the resistance at the upper band of 78,370 and support at the middle band of 77,960.

From the 4-hour chart, the current price of 78,220 is above the middle Bollinger Band of 77,334, but after a high-level pullback, buying volume is insufficient, and the 24-hour gain has turned negative, indicating overall weak momentum. Trading-wise, a bearish approach is recommended: focus on the previous resistance zone of 78,600–78,700, if a rebound approaches this zone but fails to break through, consider short positions; the first support below is at the middle band of 77,300, and a break below would further open the downside space.
Morning trading reference:
Short near 78,600 for Bitcoin, target 77,100
Short near 2,350 for Ethereum, target 2,320