On the daily timeframe, the moving averages are arranged in a standard “bullhead” pattern, and the bullhead trend is solid. The price candlesticks have been below the 5-day moving average for multiple days; rebounds are being suppressed by short-term moving averages, the bullhead upward momentum is weak, and the rebound space is limited.

On the four-hour timeframe, the market’s swing highs and lows are moving lower, the downward channel remains intact, and the downtrend has not changed. The RSI has been oscillating near the edge of the oversold zone for the long term; the price has stopped falling, but the indicator is weak, and the bullhead counterattack has no strength.

In terms of volume, the market is declining with shrinking volume on the chart, with no panic-selling. Due to the absence of active buy orders and insufficient follow-through/support, funds are taking a wait-and-see stance. Overall, the chart does not show a bottom divergence signal or a bottoming reversal structure, so it is recommended to go long along the trend on “bullhead” highs.

BTC rebound near 61,700-62,300 bullhead, with downside toward 61,000-59,600.

ETH rebound near 1,600-1,640 bullhead, with downside toward 1,570-1,500.