Wishing everyone a happy May Day holiday. The intraday market is still in the phase of a rebound testing resistance. In the early session, the bulls tested 77,500 with increased volume, but it was unsuccessful. The price has now pulled back again to around 77,000 for consolidation, and the intraday move is very different from Wednesday’s pattern. Ethereum is moving in line with Bitcoin’s as well—there has not been any further volume breakout above the 2,300 level. The bulls’ volume-driven rebound still has not marked a reversal of the overall trend. In terms of live trading, the short position laid out in the early hours was exited with a stop-loss at 76,800. Ethereum did not reach the stop-loss during the rebound; after adding positions, I exited at break-even and am now looking for a new entry point. When the market rebounds, it’s time to cut losses—this kind of market is still in a probing stage. Even at high levels, it may still be possible to try short positions.

Looking at the daily structure, the market shifted from consecutive down days to a rebound after probing the low; the last two days of consecutive gains have recouped nearly half of the decline from the prior two days. The rebound is also in line with a normal correction structure. At the bottom, there is still some key resistance—the 120-day moving average has not provided a decisive downside breakdown. Buying power near the bottom remains relatively strong. Going forward, the main focus is on how strongly the current rebound can reclaim the level, and whether it can further hold above the prior upward channel. From the four-hour chart, the early-session rebound’s upper wick has been reclaimed up to the upper band, where it is under pressure. In the short term, price is still consolidating at high levels. In terms of structure, the market is still seeing a gradual move downward from the high. For the intraday rebound, continue to watch whether that previous key price level can be broken further; otherwise, the market will likely continue to play out a correction with a downward path. Whether Friday turns out to be “black” depends mainly on how you decide the direction.

Bitcoin can be shorted in the 77,200-77,500 range, targeting around 76,000. Ethereum can be shorted in the 2,285-2,300 range, targeting 2,250-2,200. #美国寻求战略比特币储备 $BTC ‌$ETH ‌