The short-term hourly chart level has entered a range-bound consolidation pattern, with heavy selling pressure concentrated above in the morning session. Multiple attempts to test higher levels were met with resistance and pulled back, indicating a clear weak market structure.



The rebound attempts all resulted in long upper shadows, with upward momentum severely lacking. Prices continue to be pressured below the 30-day moving average. Although technical indicators show a golden cross pattern forming, overall trading volume continues to shrink. The bulls are unable to mount a strong counterattack, and the market remains dominated by the bears, maintaining a strong bearish trend.

Short-term trading suggestions:
Bitcoin at 76,400 can be directly shorted, with a short-term target around 75,500;
Ethereum can also follow Bitcoin’s trend to enter short positions.
BTC0.82%
ETH-0.1%
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