Bitcoin surged sharply in the 1-hour chart but quickly pulled back, directly breaking below the middle band of the Bollinger Bands, indicating that the bullish momentum is clearly weakening. With no positive news catalysts, market trading remains dull, and investor sentiment is predominantly cautious, with insufficient buying support.

The price rebounded to the middle band but faced resistance again, with the Bollinger Bands narrowing and flattening. The upper band provides strong resistance, while the lower band offers weak support. In the short term, bears are favored, and the rebound lacks strength, likely continuing to oscillate downward.

Today, focus on the rebound strength, mainly shorting near the highs of the rebound, with minor long positions around support levels.

For Bitcoin, consider shorting near 71,500-72,300, targeting 70,000. If broken, look for 69,000; otherwise, go light on long positions.

For Ethereum, consider shorting near 2,190-2,230, targeting 2,150-2,100. If key support is broken, continue to watch for further decline; otherwise, go long along with Bitcoin. $BTC $ETH