The holiday has entered its third day, and most people are enjoying a leisurely time, but the market is quietly engaged in a tug-of-war between bulls and bears beneath a calm surface. There are no earth-shattering one-sided trends, nor sustained volume breakthroughs— instead, there are repeated tests and back-and-forth pulls within key zones.

Last night, Bitcoin once again staged a rally, briefly touching above 79,000, then quickly pulling back slightly. The short-term trend appears relatively strong, but it has yet to break through the critical resistance level, reflecting hesitation among bulls at an important juncture. Ethereum, after reaching 2,342, also quickly retreated and is now consolidating around 2,310.
From the four-hour chart, after Bitcoin found strong support at the previous low of around 74,800, it has formed a continuous upward trend with consecutive bullish candles. On smaller timeframes, a typical V-shaped reversal pattern has emerged, suggesting short-term bullish momentum seems sufficient. However, we must clearly recognize that the current price is approaching the key resistance at 79,500. This is the critical watershed for whether the bulls can open up further upside—only if it can effectively hold above 79,500 can Bitcoin have the chance to further extend its upward channel and test higher targets; before breaking through, the longer it consolidates at high levels, the greater the accumulated risk of correction. $BTC ‌$ETH ‌
Currently, Bitcoin is at a stage high, with price fluctuations narrowing continuously, providing no sufficient retracement opportunities for bulls. In this situation, blindly chasing long positions is akin to playing with fire, with an unfavorable risk-reward ratio.
Short at 78,500-79,000 for Bitcoin, watch around 77,000; if not broken, consider reversing to long.
Short at 2,310-2,330 for Ethereum, watch around 2,250; if support holds, consider going long simultaneously.