Yesterday, Bitcoin surged higher and then oscillated back down. After probing around 807, it met resistance and fell back. During yesterday’s intraday session, Bollinger Bands touched 5 times, and the range was managed well; the up-and-down swings were captured accurately, with flexible switching between long and short, resulting in steady overall gains.

On the international front, geopolitical frictions continue to heat up. Market risk-averse sentiment has risen somewhat, which has formed a certain suppressive effect on risk assets. Negotiation timelines for the related discussions have slowed, and the situation is unlikely to be quickly eased in the short term. Combined with energy prices moving higher and driving inflation expectations, volatility across the entire crypto market has increased noticeably.

Looking at the four-hour chart, the pressure at high levels is clearly evident. The upper Bollinger Band has formed a key resistance zone, and the momentum for the bulls to surge upward is gradually weakening.

The KDJ indicator has turned at high levels and formed a death cross. Multiple technical signals are synchronously biased weaker, indicating that the short-term upward rhythm has already slowed. At present, the rebound strength on the chart is insufficient, and the upward continuation is poor. The sentiment to take profits and exit after prices reach high levels is still ongoing.

Short Bitcoin at 80500-81200, target 79500-78000.

Short Ethereum at 2370-2410, target 2300-2260$BTC $ETH #比特币ETF期权持仓限额增4倍 .