From the current overall trend structure, short-term bearish sentiment in the market still dominates, and the market has failed to produce a strong stabilization and rebound. Each small rebound has been met with bearish pressure, and the upper resistance levels are gradually moving downward.

During the early session, the price effectively broke through the 58,000 key support level, further opening up the downside space. Although there has been subsequent technical rebound and repair, it is only a secondary rebound in the downtrend and insufficient to reverse the overall bearish trend.

On the smaller time frame, the market has entered a consolidation phase of long-short contention. In the short term, it is expected to mainly maintain range-bound consolidation, digesting sell pressure before resuming its decline. Until a clear trend reversal signal appears, the trading approach should continue to follow the trend and go short, waiting for rebound resistance levels to find entry points. #Gate股票转仓功能上线 $BTC $ETH