Reviewing the early trading session, the overall market is still in range-bound consolidation. After a pullback to around 73,700 in the morning, Bitcoin met resistance and rebounded; the highest rebound pushed up to around 74,700 before being capped and falling back. It has now once again dropped to around 73,800, and the intraday price range has also given about 1,000 points of room. Overall, during the day the market still continues the usual range-bound consolidation. For Ethereum, after retracing to 2,300 and meeting resistance since just after midnight, it rebounded and has now recovered to around 2,340 but faced resistance and pulled back. In the short term, it remains consolidating around 2,315, operating at a relatively bottoming range with a degree of oscillation. Going forward, the key focus is whether the level break continues.

From the current market perspective, Bitcoin’s 4-hour chart shows a retracement to around 73,700 that printed a lower shadow and rebounded. The current price has once again pulled back on a bearish move to drop lower in an attempt to probe the current short-term support structure. After the latest close breaks below the key resistance level of 73,800, there is still potential for further continuation of the pullback. In terms of indicators, the MACD fast and slow lines have fallen into a sticking pattern in the high zone; next, continue to watch for the formation of a death cross. Once formed, a bearish divergence on the top side may also develop, which in the future could drive the short side to increase selling volume and pull back further. On the 1-hour chart, after the golden cross, the rebound lacked strength and failed to break out, then returned under pressure. It is still at the node where the death cross is probing; overall, the pattern shows that the swing highs are gradually trending downward, and in the short term it has formed a certain triangular range. Going forward, this will likely lead to further pullback.

Bitcoin can be shorted at 74,000–74,500, targeting around 71,500. Ethereum can be shorted at 2,320–2,340, targeting around 2,250. #BTC $BTC $ETH