$BTC 3.4 Evening Bitcoin and Ethereum Market Analysis and Trading Suggestions

Although the daily chart is steadily closing higher and successfully breaking through the 70,000 level, hidden risks remain behind the apparent strength. Currently, the K-line has surged close to the upper Bollinger Band, which often acts as a short-term resistance near key levels. If the Bollinger Bands cannot effectively expand and open up, it indicates that the bullish momentum is not as strong as expected. This pattern of reaching the upper band is highly prone to triggering a technical correction.

While the overall structure remains bullish on the larger cycle, the 72,000 level above is a densely packed area of previous positions, and the psychological and technical resistance here should not be underestimated. On the four-hour chart, although the market is rising in a stepwise manner, the recent breakthrough of the 70,000 high is not yet solid. After breaking the triangle range, the bulls did not show overwhelming continuous strength and hesitated near 72,000.

Currently, we need to be cautious: as the price moves higher, any bearish divergence signals on the hourly chart will be a significant warning of bullish exhaustion. While a strong trend does not necessarily mean a top, the risk of chasing near key resistance levels is very high. For trading, it is recommended to consider shorting around 72,000 for a medium-term position rather than a quick short. This area is unlikely to be the start of an acceleration but rather a short-term top zone. The target is not only to watch for a pullback to 70,000, but if it breaks below 70,000, the downside correction space could further open up to around 68,000.

Tonight, Bitcoin can be shorted in the 71,000-71,500 range, with a target of 69,000.
Ethereum can be shorted in the 2,060-2,080 range, with a target of 1,950.