Morning Thoughts


From a technical structure perspective, last week's weekly chart experienced a large bearish retreat, leading to a series of daily declines and retests. This is the first time in this cycle that such a significant retracement has occurred; previously, it was mostly small corrections replacing space retracements. This time, it directly reached a space-based retracement. This kind of correction posture is expected to continue, as a trend change always involves a combination of strength and time. Once the strength is there, it will need time for consolidation. Overall, the current trend remains weak, and the Bollinger Bands can still be viewed as continuing the downward trend, with the pattern continuing to retest as long as it is not broken.

Trading Suggestions
- Bitcoin around 77,000–77,500, focus on the target at 76,000, and look for continuation if broken
- Ether around 2,125–2,145, target at 2,060
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