$BTC 2.27 Afternoon Bitcoin and Ethereum Market Analysis and Trading Suggestions

Intraday, the market has seen a rebound as expected. Bitcoin briefly touched around 68,000 before facing resistance and failing to break through effectively. It is currently consolidating above 67,000 within a narrow range. Ethereum also surged to around 2,060 before encountering resistance and pulling back. Overall, the trend remains in a consolidation pattern with clear resistance above and solid support below. The market is still waiting for further direction.

From the four-hour timeframe, the current price is oscillating around the midline. The dip earlier confirmed the validity of the support below. There are signs of a short-term bottom formation, but a volume-driven breakout still requires momentum accumulation. The key resistance remains near 70,000. If the price cannot hold above 68,500 in the short term, the rebound space is limited, and there is still a risk of a pullback after a rise.

Trading suggestions: maintain a cautious, slightly bearish outlook in the short term. Consider light positions for shorting on rebounds at higher levels. If the low does not break, continue to reference the early session’s short-term support zones.

In the afternoon, consider shorting Bitcoin around 68,200 with a target of 66,500.
For Ethereum, consider shorting around 2,060 with a target of 1,950.