On Thursday, the intraday market showed a typical weak oscillating and rising pattern. BTC first dipped to the 61666 support level during the Asian session and stabilized for a rebound, but bullish momentum continued to weaken during the European and US sessions, with the price tightly locked in a narrow consolidation range of 62428-63286. ETH's movement was highly correlated with BTC, dipping to the 1720 level in the morning to halt decline and rebound slightly, then rising to 1762 before facing resistance and falling back, simultaneously entering a sideways tug-of-war phase.

From a technical cycle perspective, the daily chart saw a two-consecutive bearish candle pullback after six consecutive bullish candles. The current price is slightly recovering with a small bullish candle relying on the middle Bollinger Band, but the rebound momentum continues to weaken. Upper resistance is building layer by layer, making it difficult for bulls to sustain an offensive. The 4-hour chart shows a bearish engulfing candlestick pattern, with the price consistently running below the middle Bollinger Band, and the overall structure remains trapped in a step-down channel.

The current market is in a dilemma: bulls are unable to sustain the rebound, while bears have not yet broken lower with volume. Prolonged sideways consolidation is contracting and accumulating energy. As long as the 4-hour chart fails to hold above the middle Bollinger Band, the downtrend structure will not change.

In summary, the late-night trading approach remains to stick with the core idea of shorting on rebounds, executing in line with the larger-cycle bearish structure.

BTC short near 63300-63800 on rebound, target 62000-61300.
ETH short near 1760-1790 on rebound, target 1680-1610.
$BTC $ETH #特朗普宣布美伊停火结束