The overnight market staged a round of one-way rally. At this stage, prices are consolidating sideways in the high-range zone. The concentrated bullish momentum is gradually running out; prices repeatedly spar with each other around the resistance level, and the long-versus-short standoff has intensified. The market is about to face a short-term directional decision.

This round of rapid upside has already exhausted a large amount of incremental buy pressure. Market activity is sluggish, and technical indicators show divergence. The upward push continues to weaken, and there is a risk of bull traps in the high area. If price cannot hold above the key resistance level, the probability of a phased pullback will keep increasing. The overhead levels for the subsequent rebound will be a prudent time to set up short positions.

Go short on the BTC rebound near 65,000-65,500, with targets at 64,000-63,000-62,000.

Go short on the ETH rebound near 1,870-1,900, with targets at 1,810-1,760-1,710.