Reviewing the intraday market trend, Bitcoin initially hovered around 63,900 in the morning, then retraced to support at 62,829 in the afternoon, followed by a strong rebound by the bulls, breaking through the key resistance level of 64,000 in the evening, pushing higher to 64,394 before facing resistance and pulling back. Ethereum's rebound strength is slightly weaker compared to Bitcoin, mainly showing a corrective rebound after a sharp decline. After reaching around 1,690 in the evening, it has now pulled back to around 1,670 and is consolidating. The crypto cycle rotates; there are bear markets and bull markets, sharp drops and rebounds. Keep a calm mindset, avoid being swayed by short-term price fluctuations, follow the rhythm, and move forward steadily.

The current market is in the stage of oversold rebound after a deep decline and testing the strong resistance after a breakout. Overall, the market shows a short-term bullish bias but faces strong overhead resistance. From the weekly chart perspective, the price continues to be under pressure and remains below the 50- and 200-day long-term moving averages, maintaining a downward bearish trend. The Bollinger Bands are opening downward, with the price moving below the middle band, and the lower band around 60,500 forming a critical support level. On the hourly chart, the price fluctuates around the moving average, with a balanced battle between bulls and bears in the short term, showing no clear short-term trend. The MACD is slightly bullish with a small golden cross at low levels, but the red volume bars are weak, indicating that although bulls have the advantage in the short term, the momentum is insufficient. The market is only in a corrective phase during the decline, with no signs of a bullish reversal. Therefore, the trading strategy should mainly focus on high positions, and consider light positions after a retracement to around 62,000.

In the midnight session, short Bitcoin at 63,800-64,300 with a target around 62,000.
In the midnight session, short Ethereum #Marvell大涨超11%领涨芯片板块 at 1,670-1,700 with a target around 1,600.