This morning, a large bullish candle broke the weekend's sideways market. Bitcoin broke through the strong resistance level of 63500 above, hitting a high of 63979 where it faced pressure, and has now retreated to around 63500 for consolidation. Ethereum followed Bitcoin, briefly testing 1808 before being quickly pushed back.

The current market structure is typical of short-term bullish but medium-term bearish. On the 4-hour chart, Bitcoin has repeatedly surged but closed with long upper wicks, indicating extremely heavy selling pressure above. Multiple tests around 63800 have been met with quick rejections, showing insufficient bullish absorption. A low-volume rally is unlikely to break the upper boundary of the range. The Bollinger Bands are narrowing significantly, and market volatility continues to compress. The price is oscillating between the upper and middle bands. The key focus going forward is Bitcoin's breakout direction. For now, we can take a short position first, and then go long once the price pulls back to the 62000 support level without breaking it and stabilizes.

This morning, short Bitcoin at 64000-64500, target around 62000.

This morning, short Ethereum at 1800-1830, target around 1700.