Yesterday's Review: Yesterday, the key watershed for BTC was 60600~60800. If held, it would continue to test around 62000; falling back below 60600 would mean a short-term cooling of the rebound. Over the past 24 hours, BTC hit a low of about 59529, breaking the watershed during trading, but then pulled back to around 61500, peaking at 62137, which constitutes "cooling first, then recovery"—the conclusion was partially fulfilled. For ETH, yesterday's key watershed was 1620~1630; holding firm would test around 1668. Over the past 24 hours, ETH hit a low of about 1596, then surged to a high of 1723, reclaiming the daily middle Bollinger band, showing stronger recovery than BTC—the conclusion was fulfilled. Regarding altcoin rhythm, yesterday emphasized that BTC must hold support and ETH must strengthen for recovery room. Today, with ETH driving elasticity recovery, the altcoin rhythm is partially fulfilled.

Today's Overall Judgment: The combined state of BTC and ETH points to a bullish recovery, but they have now entered a short-term resistance zone. ETH is significantly stronger than BTC, risk appetite is recovering, and altcoins can be observed with an offensive stance today. However, BTC has not yet effectively held above the daily 20-day moving average around 62360, so this cannot be directly seen as a trend reversal.

BTC's 4-hour chart is near the upper Bollinger band at 61949, with MA20 around 59862 and MA60 around 60419. The rebound structure remains, but chasing at the upper band is not advisable. The daily chart has reclaimed MA5 around 59928 and is approaching the daily middle Bollinger band and MA20 around 62360. Weekly and monthly charts are still below the medium-term moving averages, indicating a recovery phase. Short-term support: 61200~61300, strong support: 60040~60160; short-term resistance: 62100~62250, strong resistance: 62360~62800. Today's key watershed: 61200~61300. If held, it can still test above 62360; falling back below 61200 would be treated as a consolidation and cooling.

ETH's structure is stronger than BTC. The daily chart has reclaimed the middle Bollinger band and MA20 around 1669, with volume exceeding the 20-day average volume, indicating better recovery quality. Weekly and monthly charts are still below the major moving averages, so this can only be seen as a staged rebound. Short-term support: 1685~1690, strong support: 1665~1670; short-term resistance: 1720~1738, strong resistance: 1819~1848. Today's key watershed: 1665~1670. If held, altcoin elasticity remains; falling back below 1665 would cool the ETH-driven recovery.

Today's Altcoin Synergy Judgment: Today, altcoins are observed with an offensive stance, but the rhythm depends on whether BTC and ETH continue to resonate. When BTC holds 61200~61300 and ETH holds 1665~1670, small caps have room for rotational recovery. If ETH continues to be stronger than BTC, funds are more likely to flow into elastic directions. Conversely, if BTC rises to around 62360 and falls back without volume, or ETH falls back below 1665, altcoins are prone to shift from catching up to a rally then a retreat. Today is not a day for full-scale chasing; instead, decide whether to participate after seeing the market watershed.

Public Version Operational Principles: Do not chase highs; first wait for key support confirmation. Only when BTC holds above 62360 and ETH holds above 1738 can recovery diffusion be considered. If they fall below their respective watersheds, prioritize reducing altcoin positions for defense.

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