Evening Thoughts

From the current market situation, the recent pullback in the afternoon has been within expectations. Bitcoin has failed to break through the 68,000 level twice already, with clear resistance above. The double top pattern is starting to form, and combined with the dead cross on the indicators, the bearish signals are quite consistent.

Moreover, this decline was accompanied by volume, indicating a genuine sell-off rather than a false dip, which suggests market sentiment is indeed leaning toward bearishness. Looking at the daily chart, two consecutive long upper shadows clearly show that there has been ongoing distribution above, with significant selling pressure. Recently, the overall volatility has been narrowing, which is essentially building up strength, waiting for a breakout in one direction. Once it happens, it’s likely to accelerate rapidly.

Trading Suggestions:
Buy around 66,400 for Bitcoin, targeting around 65,000
Short around 2,080 for ETH, targeting around 2,020