#BTC 4.1 Wednesday Morning Bitcoin and Ethereum Latest Analysis and Outlook

Gains are due to luck, losses stem from cognition, and holding on is obsession. Looking back to the early hours, Bitcoin surged to a high of around 68,600, breaking this week's new high, and is now hovering around 67,800-68,300. Ethereum closely follows Bitcoin, reaching a peak of 2024, then pulling back, currently oscillating around 2090.

Based on the current market situation, in the four smaller timeframes, after a rally and pullback, the midline forms support. A slight rally followed by a pullback opens a narrowing downward channel. The bullish momentum has weakened and shifted to bearish, with moving averages turning downward. In the short-term, wide-range oscillations continue, with further downside potential. The short-term performance is slow, and the momentum release is limited. We will continue to focus on the consolidation pattern, mainly participating in short positions at high levels. The hourly chart shows that after a rally, the candles are narrowing, with dense upper shadows. Each rebound is quickly pushed back, and bullish momentum has completely diminished. The larger timeframe remains bearish, and rebounds are still opportunities for shorting!

Trading Suggestions:
Bitcoin: Short at 68,500, targeting 67,300
Ethereum: Short at 2,130, targeting 2,045