The overall trend today showed an initial rise followed by a decline, with an early surge to around 82,000 being met with resistance above, leading to a predominantly oscillating downward rhythm throughout the day. The bulls hardly provided much of a rebound, with the highs continuously lowering, and the momentum clearly weakening. In the evening, the downward pace accelerated, falling back to around 80,100 before stabilizing. Currently, it remains in a low-range consolidation, showing a structure of a single-sided decline after weakening from a high level. However, as we mentioned earlier in the morning, the larger timeframe remains bullish because no matter how it oscillates, the major support levels still hold and can support subsequent strength, only experiencing a short-term pullback adjustment. Since the current decline in momentum and speed does not signal a trend reversal, it can be regarded as a correction phase. After this correction, we can continue to look for an upward move.

From the current market situation, each dip in the market has been accompanied by some rebounds. After retreating to the bottom last night, the bulls quickly regained the downward space in the early morning. This shows the strength of the support below. The bearish force struggles to sustain the decline, while the bulls are gradually accumulating strength. Given the current situation, the downward movement can be treated as a correction, a normal adjustment after the previous bullish rally, not a reversal of the main trend. Many traders hurriedly followed the bears during the decline, but the current correction lacks strength and continuity. The market's rebound again has caught some traders off guard. As always, there is no such thing as only rising without falling. We should not let short-term declines affect our trading rhythm, nor be fooled by temporary dips. In summary, once the correction is complete, the market is likely to re-enter a bullish phase. Based on the early morning outlook, we continue to maintain a bullish stance.

Wednesday early morning, Bitcoin trades around: 80,000-79,800, bullish, target focus on 82,500.
Ethereum trades around: 2,240-2,220, bullish, target focus on 2,350.