Bitcoin and Ethereum stabilized at support levels last night, which is a good sign. But the problem is—on the 4-hour chart, the bearish engulfing pattern is stuck at a key resistance level, repeatedly failing to break through, and the smaller timeframes also show signs of weakness.

For those of you who are bearish with me, hold your positions steady. From the current situation, a pullback is more likely tonight. Until the resistance levels are effectively broken, being cautious and optimistic is more reliable. In the short term, we still need to watch the technical indicators.