Afternoon market overall remains in a consolidation phase. Bitcoin surged to around 71,900 in the afternoon before facing resistance and pulling back. The short-term support level has been confirmed at the small cycle bottom of around 71,400. Currently, it is still trading within the middle of the intraday range, maintaining oscillation around 71,600. As for Ethereum, it recovered to around 2,060 in the afternoon before facing resistance and pulling back. The market tested support near 2,240 and rebounded. It is now consolidating around 2,250.

The four-hour chart shows high-level consolidation, with frequent upper shadows above, indicating persistent selling pressure at high levels. The focus moving forward is whether the price can stabilize above 72,000, turning into a bullish breakout with increased volume and strong recovery. Currently, indicators are still in oversold territory, with the KDJ three-line showing signs of further adjustment. The key is to watch the extent of the pullback and whether it can hold above the support levels; otherwise, the overall trend remains bullish with a recovery pattern.

In the short term, Bitcoin is trading within a range of approximately 71,000 to 72,000, with a strategy to position within this zone. Attempting short positions near 72,000, with a stop-loss above 72,000 on the four-hour chart. For Ethereum, consider short positions around 2,260, expecting a pullback toward support near 2,200.