Although Bitcoin's daily chart has entered the cloud, the resistance above is heavy. The recent rebound can only be seen as a short-term correction, making it difficult to determine a trend reversal. The long-term bearish pattern remains deeply rooted. Technical resistance is clearly stacked, with the 94500 level converging with previous high points and the Fibonacci 50% retracement; around 95800, there is resistance from the 90-day moving average and the extension line at 0.786; 97300 is where the extension line at 0.618 resides; and near 98500, the cloud top follows closely behind. These levels form a dense resistance zone, making it hard to break through easily. After RSI entered the overbought zone, it has started to weaken, reflecting that short-term momentum is drying up. The downward wedge pattern on the chart also hints that the bears still hold the upper hand. Currently, the risk-reward ratio favors the bears.

It is recommended to short in batches within the 94500 to 95800 range or around 97250, with a stop-loss set above 97300. The expected targets are at 91500, 90500, 89500, 87500, 85500, and 84000. As the price approaches previous lows, consider gradually taking profits but retain some positions to continue betting on further downside. If confident in the market outlook, a light short position can be tried around 94000 in advance.

Ethereum is linked with Bitcoin, and the top resistance is also clear. The 3260 level is the Fibonacci 0.618 retracement, showing significant resistance; the 90-day moving average near 3280 continues to restrict the rebound; the region from 3300 to 3435 faces multiple pressures from the cloud top and extension lines. From a technical perspective, Ethereum remains within a long-term bearish framework, currently showing a descending wedge top pattern, with rebounds struggling to gain momentum. In this situation, it is not suitable to chase longs and one should be cautious of the risk of a pullback from high levels.