$BTC At the start of this week, the market was still in a consolidation-like state. Ahead of the monthly candle close, BTC once again tested the 58000 level, then the price action quickly regained ground. Supported by a series of favorable data throughout the week, the overall market followed a bullish recovery rhythm, reclaiming strength to the upside. During the weekend’s low-volume consolidation, it continued to push higher; the high briefly touched around 63500 before meeting pressure. The 58500 swing long position planned last week also successfully reached the target level, with profits locked in precisely. Ethereum moved in sync with BTC, but the strength of the recovery was clearly stronger: it rose steadily from the 1550 area at the beginning of the week to face pressure around the 1800 level, posting nearly 250 points of rebound space within the week. Throughout the week, the market repeatedly broke through key levels. We maintained a bullish approach for the entire time. Aside from one short position that was stopped out, the overall performance still looked quite impressive: BTC cumulatively locked in 10600 points, while ETH cumulatively captured 425 points.

The weekly candle body turned bullish, occurring within a corrective structure after the previous large bearish drop. However, the weak undertone of the larger cycle has not been completely changed by this single bullish candle; it can only be treated as a rebound repair, not a reversal signal. The key resistance that suppresses the short-term pullback is still around 65800, which is near the starting point of this leg down. This week’s price action is basically how it fell last week and how it’s risen this week. Although it has not yet recovered back to the earlier core consolidation range, the rebound strength and follow-through after this retracement are the most solid in recent times. Next, the focus is on whether this daily-level repair can help the bulls further increase volume. The daily chart printed four consecutive bullish candles; after the rally, it firmly held above the middle band of the Bollinger Bands. The middle band is the line that separates bull and bear dynamics in the trend. Although it is standing above during the current low-volume consolidation phase, it has not broken out further with additional volume—this indicates that bulls and bears are still in a standoff within the key resistance area, and short-term signals remain unclear.

The layout logic I discussed with you earlier remains unchanged—place a 58000-area BBO swing long position, with the target at the 63500 level; this week it has already successfully reached that level. Per the original plan, around 63500 you can reconsider setting up a swing short position. In terms of structure right now, the core resistance zone is between 64300 and 64800. After a short-term rebound, price faces resistance near 63500, so you can continue to look for a pullback in line with the trend. Below, pay close attention to whether the 4-hour chart breaks the 120-day moving average and the 62200 level. If the pullback extends further, the next target to watch remains around the 61000 area. $ETH