In the early morning today, the crypto market continued its overall rebound and consolidation pattern. Boosted by market expectations of a non-farm interest rate cut, major cryptocurrencies sustained residual bullish momentum and staged a phased upward breakout. Bitcoin surged during the day to the key resistance level of 64,234, then pulled back in an orderly manner after facing pressure. In the short term, it has been oscillating within a narrow range of 63,300-63,500, with bulls and bears temporarily reaching a balance.

Ethereum's trend is highly correlated with Bitcoin, with the rhythm of their movements synchronized. In the early session, it touched a stage high of 1,812.85 before encountering strong selling pressure above, leading to a rapid price pullback and a successful test of short-term support. From a capital flow perspective, both major cryptocurrencies have seen a slight net capital outflow over the past 24 hours, reflecting a lack of follow-through momentum from bulls. The volume structure shows a typical pattern of rising volume on the breakout and shrinking volume on the pullback, with short-term upward momentum gradually weakening.

From the 4-hour technical cycle perspective, both Bitcoin and Ethereum have shown a consolidation pattern of two consecutive bullish candles turning bearish. The K-lines are repeatedly retracing, and the short-term upward pace has notably slowed. The Bollinger Bands are contracting on all three lines, continuously compressing the market's fluctuation range, which is a typical signal of accumulation. The overall trend structure has not been disrupted by the short-term pullback, and the medium-to-long-term upward pattern remains intact. This short-term decline is merely a healthy consolidation adjustment within the uptrend. The long positions from the previous low-level layout have been precisely executed, successfully capturing this round's wave gains. The current market is in a consolidation and accumulation phase, awaiting a directional breakout to initiate a unilateral trend.

Go long on Bitcoin if it pulls back to around 62,500-62,000, targeting 63,700-64,000.
Go long on Ethereum if it pulls back to around 1,720-1,700, targeting 1,800-1,850.
$BTC $ETH #Vitalik公布精简以太坊路线图