$BTC 3.1 Nighttime Bitcoin and Ethereum Market Analysis and Trading Recommendations

From the overall market structure, the current market remains deeply entrenched in a wide-range tug-of-war pattern. Although on a short-term level, the bulls still maintain a slight rebound and correction momentum, we observe that the supply zone (resistance area) above has been tested multiple times with high intensity. Past several rebounds have been met with resistance and pulled back near the same critical level, indicating that the selling pressure in this area remains solid, and the risk premium for chasing highs is rapidly increasing.

As the resistance at the top becomes more pronounced, the short-term downside risk in the market is quietly increasing. Recently, after a rapid decline, the price briefly experienced a technical rebound, but the key issue remains—price has consistently failed to effectively hold above the critical support level. Multiple breaches and re-pressures confirm that the bulls are currently unable to form a cohesive force, and lack the confidence to push the price out of a sustained upward trend.

After experiencing extreme volatility earlier, the market indeed needs time to digest and consolidate positions, but this does not mean the correction has ended. In the context of prolonged resistance at key levels, the trend often tends to move toward directions with less resistance. Therefore, today's trading approach should avoid impulsive chasing and selling, and focus on a defensive strategy within a range.

Nighttime Bitcoin can be shorted around 66,300, with a target of 65,500.
Nighttime Ethereum can be shorted around 2,020, with a target of 1,950.