Last night, Bitcoin and Ethereum faced resistance at high levels around 3370 and 97000, respectively, and pulled back. They then oscillated downward to around 3270 and 95000. In the early morning hours, the market showed another adjustment opportunity near 3320 and 96500, but the subsequent performance was somewhat weak—Bitcoin only touched 96000 and didn't go higher, while Ethereum just reached the expected level. Currently, both coins are consolidating at high levels with partial pullbacks, and in the short term, they are under policy pressure, making price fluctuations relatively controllable.

From a technical perspective, on the 4-hour chart, the market is still within the upward channel, but short-term technical indicators have already shown signs of adjustment. The daily MACD continues to expand, and the medium-term upward trend remains strong, though some details are loosening. Regarding candlestick patterns, the daily chart shows a range of oscillation around 3300 and 95500, with a rapid rise from lows to highs followed by a pullback, hinting at a short-term top. On the 4-hour cycle, the price has repeatedly tested previous highs but failed to break through effectively. It is now gently declining, with the range of volatility gradually narrowing. As for technical indicators, the daily MACD is still above the zero line, but the red bars are gradually shrinking, indicating weakening upward momentum; the 4-hour MACD has already formed a death cross downward, signaling the start of a bearish move.

In terms of trading strategy, Bitcoin can be shorted within the 95500-96000 range, targeting around 94000; Ethereum can establish short positions between 3290-3320, with a target of 3200.