1.4 Weekend rally followed by narrow-range consolidation, watch for high-low point switching

Bitcoin and Ethereum experienced multiple pullbacks yesterday, aligning with the Dudan’s retracement strategy, and the market has been steadily rallying with visible room for growth. However, since the early session’s surge, prices have remained in sideways consolidation up to now. Recently, there has been a trend of oscillating upward, market sentiment is optimistic, and capital inflow is evident. Over the past few days, Bitcoin and Ethereum have gradually climbed from around 86,500 and 2,900 respectively. After spiking to around 91,800 and 3,165 during the daytime, profit-taking pressure caused a narrow-range consolidation, forming a strong structure of “higher highs and higher lows.”

Technical indicators: On the daily chart, the price has broken above the upper band resistance, and the short-term moving average system has formed a golden cross, providing support for the price. The four-hour indicators are showing a bullish trend, but on the hourly chart, the market is in overbought territory, indicating a short-term correction may be needed. Resistance levels are at 3,200-3,220 and 92,500-93,000.

Evening trading suggestions: Short near 91,800-92,300 for Bitcoin, with a target around 90,300; short near 3,160-3,180 for Ethereum, with a target around 3,080.