The market has not broken through the key support level, and then the hourly chart quickly rose with two consecutive bullish candles. The current quote has broken through the double support and is around 98k.
Although the short-term test during the day did not meet expectations, using small test orders to confirm market direction is an acceptable result. After a long period of consolidation, a significant volatility often follows; this movement may be aimed at clearing short-term positions in the market.
Currently, we need to pay attention to whether the price can hold steady in the 97.7k-98k range after the line change at midnight. Ethereum will follow Bitcoin accordingly. If it cannot break through these key points in the early morning, we can still layout short positions around the resistance zone, aiming for 95k.
If the market shows further signs of a breakout, we need to cancel the short-term bearish plan and shift our focus to the potential upward path near 100k. It is recommended to take a wait-and-see approach in the late night, waiting for tomorrow's market update before making decisions.
It is suggested to short Bitcoin at 98000-98800 with a stop loss of 300-800 points $BTC