Yesterday, Bitcoin surged higher then oscillated and fell back, testing the high near 807 before encountering resistance and dropping back. During yesterday's session, the market moved within a range, with flexible long and short positions, capturing the overall gains steadily.

On the international front, geopolitical tensions continue to escalate, and market risk aversion sentiment has increased, exerting some pressure on risk assets. The pace of related negotiations has slowed, and the short-term situation is difficult to quickly ease. Coupled with rising energy prices driving inflation expectations, the entire crypto market has experienced significantly increased volatility.
Looking at the four-hour chart, the high-level resistance is obvious, with the upper band of the Bollinger Bands forming a key pressure zone, and the bullish momentum gradually weakening.
The KDJ indicator has formed a death cross at high levels, and multiple technical signals are collectively showing weakness, with the short-term upward momentum already slowing down. Currently, the rebound strength is insufficient, with poor continuation upward, and the sentiment of taking profits at high levels persists.
For Bitcoin, short positions are suggested around 80,500-81,200, targeting 79,500-78,000.
For Ethereum, short positions are suggested around 2,370-2,410, targeting 2,300-2,260.
$BTC $ETH # Bitcoin ETF options position limits increased fourfold.