Thursday afternoon, the bulls did not maintain their upward momentum, continuing to sell high in the afternoon.

Bitcoin saw another increase of a thousand points in the morning, but it could not sustain its upward movement at the 95,500 level, followed by a slight pullback. Ethereum rose to around 3,405 and faced resistance. It can be observed that there is no continuation of the bulls in the short term, and the rhythm remains within the range.

On the 4-hour chart, a bullish trend is present in the short term, but the momentum is limited and has not broken through the previous high point of 96,200. If this area cannot be effectively broken, a double top will form above, and the market will then pull back. However, from the 1-hour chart, the bullish upward trend remains good, and no obvious signs of a reversal are currently seen. Given the pressure at the upper band, attention should be paid to the resistance at the 96,000 level in the future; if broken, it will continue to rise, but if not, a pullback is expected.

In the afternoon, Bitcoin is focused on shorting in the 95,500-96,000 area, with a target around 94,000.

Ethereum is short around 3,400, with a target around 3,350-3,320.