The current bullish trend in the cryptocurrency market is clearly evident, with Bitcoin undergoing narrow fluctuations around the 123000 level, while Ethereum repeatedly tests resistance strength at the key price level of 4500. From the perspective of technical structure support, the rhythm of volume release changes, and the deeper logic of capital layout, the game between the bulls and bears is precisely focused on these core fluctuation ranges.

The four-hour technical analysis shows that Bitcoin's candlestick has completed a bottoming out in the lower Bollinger Bands and has closed with a bullish candlestick. However, after a pullback during the session, the bullish candlestick's body failed to effectively break through the middle Bollinger Bands resistance, and the characteristic of suppressed upward momentum is quite evident. On the MACD indicator, although the bearish energy bars show a contraction from negative to weaker, the fast and slow lines still maintain a downward diverging pattern, indicating that the adjustment trend of the market has not fundamentally reversed in the short term. Switching to the one-hour level, the bodies of the bullish candlesticks continue to narrow, and the pace of upward momentum release is significantly slowing down. The current market is in a period of consolidation, with both long and short forces temporarily entering a relatively balanced stalemate.
You can short Bitcoin in the 123000-123500 range, aiming for around 121000; you can short Ether in the 4480-4510 range, aiming for around 4400.