The market has just completed an oversold rebound repair and is in the early stage of an upward channel, with many bullish recovery signals. The Bollinger Bands are opening upward, leaving room for price to rise; the daily candlesticks are forming a “bag-head”/stacked arrangement, showing strong short-term buying; short-period moving averages have formed a golden cross at low levels, resonating and providing support. In the short term, the technical trend is oscillating upward, and the rebound momentum has not yet been fully used up.

However, “bag-head” rallies face strong resistance at higher levels, with concentrated pressure overhead that limits the upside room. After price touches the upper Bollinger Band, upward momentum fades, showing signs of sluggish continuation and difficulty pushing higher—there is a high risk of pulling back from the highs. Currently, this is an oversold-rebound scenario, not a strong, one-way “bag-head” uptrend. Therefore, you should not blindly chase “bag-head” rallies. In the short term, prioritize using resistance levels as references to arrange the rebound; when price stalls and lags at higher points, enter in batches, and manage the risk of chasing “bag-head” at high levels.

btc rebound around 61600-62200, then look lower to 60800-59800

eth rebound around 1710-1750, then look lower to 1680-1600