From the morning trend, Bitcoin is generally consolidating and ranging around below 74,000. During this period, it repeatedly probed lower lows and touched 73669, but it failed to effectively break below the support position. Then, during the forenoon, the market gradually raised its center of gravity, forming a step-like upward structure; in the afternoon, the bulls started to exert stronger force, and the price continuously broke through the previous high suppression zone. It briefly topped out around 75500, followed by a rapid pullback. Short-term bullish profit-taking was obvious, but it quickly gave back and returned to around 74800. Ethereum’s movement is basically synchronized with Bitcoin. In the morning, after completing a stop of the downside around 2250, it saw consolidation and an upward lift. In the afternoon, it followed suit with a volume-expansion rally, reaching above 2330 at the peak; then it also experienced a series of consecutive pullbacks, and it is currently consolidating below 2300. Overall, the intraday market rhythm is very clear: first, low-level consolidation to build up energy; then, in the afternoon, a concentrated release of upward momentum; and finally, it enters the correction phase after the surge.

From the perspective of the order book structure, on the 4-hour timeframe, Bitcoin is still in a oscillating and slightly bullish structure. The current leg of upward movement started from the lows has not broken the trend, but in the short term, a clear pressure has formed around 75500, and the retracement after the rally is relatively strong. This indicates that real sell pressure above does exist. For the downside, the key is to watch the buy-side follow-through strength in the 74500-74200 area. This is both the retest confirmation zone of this rally’s rise phase and the short-term line dividing bulls and bears. Once it breaks down, the structure will turn into high-level consolidation and even a corrective pullback. If it can stop the decline and turn stronger again in this area, the bulls still have room for a second attempt to push higher. As for Ethereum, the structure is similar: a top is formed with resistance above 2330, and on the downside, support is still focused around 2260. Combined with the current rhythm, it is more likely that the short term will first see a pullback and correction phase before deciding the direction. Therefore, in terms of trading, maintain the idea of being positioned for high sell rallies, and with the market currently both reaching the target entry levels for going in at high points, positioning can be arranged. #GatePreIPOs首发SpaceX $BTC