Bitcoin's midnight price rapidly rose from a low point, but the momentum of long positions gradually weakened, entering a high-level oscillation phase. Although it once broke through a key resistance level during the session, it failed to hold, and instead showed signs of stagnation after reaching recent highs. The market's trading sentiment has become cautious, with trading volume gradually shrinking, reflecting a lack of chasing the price funds. During this phase, the price made multiple attempts to rise but did not form effective breakthroughs, instead repeatedly facing pressure near local highs, indicating that the short-term upward space has been compressed, and the market needs further adjustments to accumulate momentum.

Considering the current technical patterns and market sentiment, Bitcoin is facing a risk of a short-term pullback. From the chart, the price has repeatedly formed peaks and retreated in key resistance areas, indicating that selling pressure above is gradually increasing. Although the MACD indicator is still in the bullish range, the slope of the fast and slow lines is flattening, suggesting that upward momentum is weakening. Furthermore, the hourly K-line frequently shows long upper shadows, indicating that bears are continuously applying pressure at critical positions. If there is no quick breakthrough and stabilization above the recent highs in the short term, the market may turn to test the support below. An important support area to watch is located at the lower edge of the recent consolidation range; if the pullback is accompanied by an increase in Trading Volume, the adjustment may deepen. In terms of short-term strategy, it is advisable to be cautious of chasing the price and to wait for signs of stabilization after a pullback before making any positioning decisions. Overall, the market needs to undergo a technical pullback to alleviate overbought pressure and create space for the next stage of directional choice.

Short-term trading advice:
Short Bitcoin around 83500, target focus on around 81500; short Ethereum around 1680, target focus on around 1600.