Early morning Bitcoin and altcoins both surged higher, reaching around 70100 and 2089 respectively before facing resistance and pulling back. Currently, they are consolidating around 68900 and 2030.

From the current market situation, although there was a strong upward move during midnight trading, the bulls have not been able to effectively break above the key 70000 USD level for Bitcoin. After encountering strong selling pressure at this critical high, prices quickly retreated, and bullish momentum has clearly weakened. The current price is in a high-level weak consolidation phase. Based on the overall trend structure and candlestick patterns, this rally has formed a temporary top. The bullish momentum has been exhausted, and the subsequent market will likely enter a phase of bearish dominance with oscillating downward movement. It is recommended to consider short positions at resistance levels on rallies.

Shorts around 69500-70300 for Bitcoin, targeting 67000-65000
Shorts around 2050-2100 for altcoins, targeting 1980