Weekly timeframe Bitcoin forms a long upper wick with a bullish candle near 66,000. Ethereum forms a long upper wick with a bearish candle near 1935. From the candlestick patterns alone, these indicate significant selling pressure above, and the market sentiment is generally leaning towards a bearish trend.

Daily timeframe Bitcoin closes four consecutive bearish candles near 66,000. After breaking above the top of the range, it quickly pulls back, indicating a bullish trap in the daily chart. Current resistance is at 68,000-69,000, with support at 66,000. Ethereum also shows four consecutive bearish candles on the daily chart near 1930, still operating within the range of 1800-2150. Current resistance is at 1980-2050, with support at 1900-1850.

4-hour timeframe Bitcoin and Ethereum have tested support and now show some rebound demand. The strength of the rebound depends on the resistance levels mentioned above. For those who took a conservative short position yesterday, consider protecting your capital and exiting. After a slight rebound, consider re-entering. Aggressive traders can continue to hold, and further short positions near resistance levels are still viable.

Trading Strategy:

Short Bitcoin at 68,000-68,500, target 67,000-66,000, cut losses above 69,500.

Short Ethereum at 2000-2020, target 1930-1850, cut losses above 2060.

Strategies are time-sensitive; specific guidance will be provided privately in real-time!