Morning Thoughts

After a bottoming and rebound at the 4-hour level, the price recovers the midline, but the main trend has not yet shown strong continuation. Currently, it is stuck in a high-level sideways consolidation and correction. The trading volume of the main trend gradually weakens, further increasing the possibility of losing the midline. The secondary trend is likely to remain mainly oscillatory, with particular attention to the strength and weakness shifts during the European trading session. The direction of the main trend often hinges on a single thought. At present, market volatility is high, and the pattern switches quickly. The rhythm is likely to follow a winding, repetitive oscillation and decline. Whether this is a buildup for a reversal or a high-level resistance before a pullback still needs further pattern confirmation. The first support below remains at the midline, which is crucial for the main trend contest and the short-term strength and weakness boundary. The secondary trend is close to this level; a brief false break below the midline followed by a rebound cannot be ruled out. However, based on the current structure, it is more inclined to turn at this point, weaken again, and move downward. The morning outlook still favors a continuation of the price decline.

Trading Suggestions

Bitcoin around 76,500-76,800, target 74,500

Ethereum around 2,340-2,370, target 2,250