The midday Bitcoin market experienced a rebound, reaching around 68,900 before facing resistance and pulling back. In the afternoon, the overall trend showed a pullback with increased selling volume. The price briefly retreated to around 68,400 before bulls increased volume, and the price gradually formed a sideways upward structure. Currently, Bitcoin is facing resistance around 69,300 and pulling back. At present, Bitcoin remains in a consolidation range around 68,900. Ethereum's movement is largely consistent with Bitcoin; it rebounded and was resisted around 3,130 before pulling back, and is also consolidating near 2,120. In the afternoon, the market aligned with our outlook: traders who entered short positions can continue to hold. The key support level below is 68,200.

On the four-hour chart, after MACD's fast and slow lines consolidated at high levels, a crossover is imminent. The KDJ indicator shows a death cross, and currently, volume is increasing. However, the key point is that the Bollinger Bands are still trending upward and have not entered a further correction phase. The middle band remains upward, and the market has retreated without further decline. There is a high probability that volume will continue to test the middle band to determine key resistance levels. Combining with the one-hour chart, the afternoon volume spike corresponds to a short-term golden cross on the hourly chart. After the overall volume increase, resistance was encountered, so the current market remains bearish. In terms of trading strategy, maintain a high short outlook.

Bitcoin can be shorted in the range of 68,800-69,300, with targets at 68,200-67,500. Ethereum can be shorted in the range of 2,110-2,130, with targets at 2,080-2,050. #加密市场行情震荡 $BTC $ETH