The market is seeing triangular oscillation. The continuation between bullish and bearish momentum is weak, with price moving back and forth; neither side has effectively broken through key support or resistance levels.

The pullback from the earlier high was deep, and the technical side is difficult to quickly recover. A market reversal may require a push from news catalysts. The daily rebound lacks strength: once price hits it, it is pulled back again. There is currently no reversal breakout signal.

On smaller timeframes, price action is under pressure. After a failed push higher, it has leaned toward bearish consolidation. The short-term rebound has stopped the selloff, and the market has returned to range-bound oscillation and correction. At this stage, the key focus is the volume after the correction: whether the bears can expand volume to release selling pressure and kick off a new downtrend.

BTC rebound around 60200–60800, then look down at 59400–58000.

ETH rebound around 1620–1650, then look down at 1590–1500.