The overnight market has seen a round of one-way rallies, and at this stage the price is consolidating sideways in a high-range area. The bullish momentum released in a concentrated manner is gradually running out; the price repeatedly tug-of-wars around the resistance level, intensifying the battle between bulls and bears. The market is about to enter a short-term directional decision.

This round of rapid gains has already exhausted a large amount of incremental buy pressure. With the market stalling and technical indicators showing divergence, the upward push continues to weaken, and there is a risk of bull traps in the high zone. If the price cannot hold above the key resistance level, the likelihood of a phased pullback will keep increasing. The overhead positions faced during subsequent rebounds will be a prudent time to set up short positions.

Sell BTC on the rebound near 65,000-65,500; targets 64,000-63,000-62,000

Sell ETH on the rebound near 1,870-1,900; targets 1,810-1,760-1,710$BTC $ETH