Yesterday, Bitcoin (the “big coin”) drifted lower and probed down to the 706 low. After bottoming, it saw a technical rebound at the 717 level. However, the bulls’ push higher met resistance, and upward momentum was insufficient; the price then fell back again to a narrow range around 710. This rebound is only a repair move following the drop and there are no conditions for a trend reversal. On the daily timeframe, the market is still running within a downward channel; the weak consolidation tone remains firmly in place. The bears tightly control the market rhythm, and Ethereum’s price action is weakening in tandem. The current market offers a relatively low long-side cost-effectiveness; do not rashly bottom-fish or set up a low-buy long position. In the short term, choppy oscillations keep repeating, with frequent wick-and-poke (needle) moves; the ability to tolerate mistakes with quick in-and-out trading is extremely low. If you hold positions, you are easily exposed to being trapped or facing liquidation risk—so it’s better to stay on the sidelines for the short term.

The future turning point is locked at the 725 level: only if the price can effectively hold above this point will there be conditions to switch to a bullish thinking approach. Otherwise, the market will continue to oscillate with a bearish tilt, and the core idea is to short in line with the trend. Key support below is around the 700 level.

Trading advice: for Bitcoin, place short orders around 2010-2020; downside targets are 1985 and 1960. For Bitcoin, place short orders around 716-722; downside targets are 708 and 698. $BTC ‌$ETH ‌#ETH在2000关口震荡