It's another squeeze of toothpaste market, squeezing out a little at a time. Today's market highlights are still those two time periods: a sharp drop in the morning, and the back-and-forth tug-of-war in the evening. What's more noteworthy is the strong support at around 76,000 for Bitcoin during the evening dip, and the subsequent explosive phase as the market enters a heated stage. Regarding the overall market pattern today, Zhuo Wei also provided an early warning: on Sunday, he clearly indicated that the market would inevitably experience a continued decline. As expected, the morning market dropped nearly 2,000 points in a waterfall fashion. During the white trading session, the market oscillated and tested, then in the evening, it first rose and then fell sharply, with a small rally followed by a strong pullback, successfully probing the bottom. Today’s layout involved some small-scale long positions being closed out, with Bitcoin entering long positions at 76,700 during the white session, and Ethereum following suit at 2,113. In the evening, the market initially stretched as expected, with Bitcoin gaining 1,000 points and Ethereum 39 points. Subsequently, during the bottoming phase, it was again suggested to enter long positions on Bitcoin near 76,400. Friends who followed this strategy should hold patiently.

The current market is showing a bottoming rebound pattern, with the rebound strength gradually increasing. On the four-hour chart, after probing the lower Bollinger Band, the market quickly rebounded, with bears facing resistance, which is evident from the lower shadow lines. The one-hour rebound effect is even more apparent, with bullish candles strongly stretching from below, leaving long lower shadows. The short-term downward space has become clearly limited, and the rebound momentum is gradually recovering. Additionally, 76,000 belongs to a previous dense chip zone with a large distribution of long positions, and the support below is undeniably strong. With double dominance, the market’s downward momentum is naturally limited. However, the current market has entered a critical phase of major bullish and bearish transition, so maintaining a bullish outlook while securing a bottom support position is crucial for future layout.

Bitcoin in the 76,300-75,800 range: long target 78,500
Ethereum in the 2,095-2,075 range: long target 2,280
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