The rebound sparked by the positive Non-Farm Payrolls yesterday is an emotion-repair rally. Today, the market has reverted to a sideways, consolidating structure. In the market, activity is mainly about taking quick trades in and out; sentiment is heavily cautious. Today the US stock market is closed, and overseas mainstream equity markets lack trading liquidity. Meanwhile, off-exchange incremental funds show weak willingness to enter. In the short term, there is not enough volume support to sustain a push higher.

Overall, the market environment is rather weak, and in the near term it is difficult for price action to break out of continuous gains. Next, it is likely to keep oscillating within a wide range of 61000—62000, repeatedly washing and consolidating, switching hands back and forth to digest positions. Do not blindly follow the crowd and chase after the jump or short-term rise just because there was a sharp surge the previous day. With no macro-driven capital pushing the market, the range-bound oscillation characteristic is clear. The overall market is mainly about consolidation and digestion, so it is not advisable to aggressively gamble on a one-way trend. $BTC ‌