The market fluctuates up and down; one should avoid greed and impatience. Stick to your judgment to stand firm in the market for the long term. Today, Bitcoin started from a low of 57758, and in the evening, a violent short-term rebound began, with price quickly surging from the low to a high of 60520. The current price is around 60353. Ethereum moved in sync with Bitcoin, weakening persistently in the first half of the day, oscillating downward overall, hitting a low of 1549, consolidating weakly near the lower Bollinger Band for a long time. In the evening, it rallied in sync with Bitcoin, rapidly surging from a low of 1552 to touch the daily high of 1630. The current price is 1623.

Bitcoin's current price of 60353 has significantly broken above the upper Bollinger Band of 59822, seriously deviating from the band in the short term, indicating an overbought state. The market technically requires a pullback to repair. The middle band at 58941 is the core support for this rebound. Ethereum's current price of 1623 has broken through the upper Bollinger Band of 1610, exiting the Bollinger channel range. The short-term bullish energy has been exhausted in one go, and under normal conditions, the price will fall back toward the middle band at 1582. As the evening rally phase saw a massive short-term surge in volume, it was a one-time pump driven by concentrated hot money. After the spike, volume shrank significantly, with incremental funds unable to sustain the follow-through, leading to a break in bullish momentum. There is no volume base for continued upward movement. The hourly chart closed with a very long bullish candlestick with a real body, indicating a short-term bullish sentiment at its peak. However, after that single high-volume long candle, there is no subsequent bullish candle. Clear resistance levels have formed at 60520 for Bitcoin and 1630 for Ethereum, showing signs of rejection at the highs. In the subsequent market, the price will find it difficult to hold the current highs and will likely undergo a volatile pullback and repair first. The first retracement target corresponds to the upper Bollinger Band support, followed by a retracement to the hourly middle Bollinger Band to digest this round of gains.

Wednesday Evening Trading Strategy
Bitcoin short around 60500-60300 Target 59000
Ethereum short around 1650-1630 Target 1500