Since the start of the day session, the core of Bitcoin’s overall operation has still been centered on repeatedly probing the upper end of the range. From the morning onward, the price gradually rose from around 74,800, and the high reached above 76,000. During this period, although there were pullbacks, they all stayed relatively shallow and did not form a continuous breakdown, indicating that support below remains in place. However, it is worth noting that when price approached the previous high area, multiple upward probes failed to break out with follow-through; instead, price hovered in a high-level area with repeated trading. In the afternoon, although price pulled back again, it still did not break further downward. Ethereum’s movement is synchronized with this: it gradually rose from around 2218 to above 2270, and likewise showed limited pullbacks and a rising center of gravity, with a noticeably longer period spent at higher levels. Overall, intraday price has indeed risen, but it is closer to repeatedly consuming pressure in the overhead resistance area rather than truly opening a trend. This type of behavior often means there is strong sell pressure above, and the market is in a critical state.

From the current order book situation, at the weekly level, it still remains in a high-level narrow-range oscillation. At the daily level, it is also oscillating within a narrow range between the upper band and the middle band. Compared with the current range value, it is closer to the middle band. In this oscillating market, it keeps probing higher and testing the highs; the overall price action shows a somewhat bullish oscillation bias. Today’s daily-level decline momentum has weakened to some extent. Although there are signs of suppression as it approaches the middle band, the overall structure is an oscillation with pullback. Therefore, for the current move, we still define it as a pullback trend within a bullish trend. On the 4-hour level, there has been a slow, step-like oscillating decline—using pullback as a substitute for correction. In the short term, it is still not an extremely strong one-way move; instead, it is a back-and-forth tug-of-war. For positioning going forward, the approach remains mainly to go long on dips. After a rally, if it forms suppression at higher levels, then consider going short again.

In the afternoon, Bitcoin can go long around 75,400–75,200, with the first target to watch being 77,000.

For Ethereum, go long around 2220–2200, with the first target to watch being 2350.