1.7 Bitcoin/Ethereum short-term bulls and bears are clearly competing, watch for resistance at recent highs during the day

Yesterday, Bitcoin/Ethereum repeatedly set up short positions on rallies, with a pullback to around 3180 and 91200 at one point in the early morning, showing decent overall space. The early morning setup for short positions on rallies also took small profits during the pullback at the start of the session. Currently, the market continues to oscillate at high levels, experiencing a pullback after a surge and a rebound correction. Bitcoin's pullback was relatively large, with a "V-shaped" recovery on the 4-hour chart, but with insufficient volume and RSI in overbought territory, indicating a need for a correction. Ethereum reached a high of around 3307 last night, pulled back to support at 3181, and rebounded to around 3300 this morning but faced resistance. It is now consolidating around 3270, with overall movement synchronized with Bitcoin but showing stronger resilience.

On the daily chart, both are above the moving average, with an intact bullish trend. However, resistance around 3300 and 94000 is quite heavy, RSI is overbought and flattening, indicating a short-term correction is needed. The 4-hour chart shows support at around 3180 and 91000 with a rebound, forming an upward channel but with divergence at the top and inverted hammer candles, signaling clear resistance pressure.

Trading suggestions: Short Bitcoin near 93200-93600, target around 91000-91500; short Ethereum near 3280-3300, target around 3180-3200.