In the afternoon, the overall market broke out with a certain strong bullish momentum, continuing the multi-head trend. At present, the highest price has recovered to the 77,800 level, but it is running into resistance. Currently, it remains around 77,500. It stays strong on smaller timeframes, but it has not yet further followed through with a volume-expansion breakout structure. The way Ethereum and Bitcoin are moving has basically been consistent. Even with the recovery, it has not yet firmly held above the 2,340 level. For the outlook, you still need to pay attention to whether it breaks down—let’s see whether the market will extend the bullish momentum.

As for the short-term rebound, it has not yet provided further continuation. Overall, the recovery is still under pressure from the bottom of the earlier triangle range. The increase in volume has not yet further broken through the bottom of the previous upward channel. At this point, the bulls are showing a shrinking-volume structure. Overall, if it doesn’t hold, there’s no need to chase the bulls too aggressively before the market clears the bottom of the earlier upward channel. The rebound reaches for ETH and Bitcoin are basically the same. After the earlier triangle-range bottom was met with pressure and pulled back, it is now looking for a further upward breakout. During the day, it still appears to be consolidating in the earlier range; breaking out with too much volume has led to a breakdown. On the bigger direction, you still need to watch tonight’s Federal Reserve interest rate decision—whether it releases hawkish or dovish signals.

For Bitcoin, the resistance area to watch is the suppression structure between 77,800–78,200. If it further breaks down and continues, there is a possibility of another push to test 79,500. The pressure structure is relatively strong, and the overall trend remains bearish. For further downside adjustment, keep an eye on around 76,000. #加密市场小幅下跌 $BTC $ETH