The market surged high and touched the upper band of the Bollinger Bands, then faced resistance and pulled back, with the upper band resistance signaling a correction. The Bollinger Bands are slightly narrowing, indicating the start of short-term consolidation, and the previous upward trend has temporarily paused.

On the 15-minute chart, there was a surge followed by a sharp decline, with heavy resistance above, and trading volume continuously shrinking. The bulls lack the strength to support further gains, and the short-term weakness is confirmed. It is advisable to remain bearish on intraday rebounds.

For Bitcoin, short near 63,000-63,500 with a target of 62,000-60,500.

For Ethereum, short near 1,680-1,700 with a target of $BTC 1,600-1,550.