Bitcoin is overall showing a choppy consolidation pattern. After rebounding from the intraday low near 64,392 early this morning, it briefly touched the 65,600 high zone during the rally, but then met resistance and pulled back. It is currently trading around 64,683, with a “spike up and then retrace, range-bound consolidation” pattern during the day. Ethereum’s price action remains highly correlated with Bitcoin: it also started rebounding from the 1,985 low, hit a high near 2,030, and then followed with a pullback throughout. The chart reflects steady lagging-up and then synchronous retracement, and the strong inter-market correlation is still evident, with a clear synchronized effect across major coins.

On the daily timeframe, it is within the rebound and repair channel after the prior downtrend. After the market bottomed out at the extreme low of 61,825 on July 13, it has since unfolded a step-by-step rebound. After the bulls’ momentum released in phases, the market entered a consolidation period. The moving-average structure shows a short-term upward turn, but medium-term suppression still remains. The 15EMA and 30EMA form support below; price has already moved above these two averages, but it is still being pressured by the key 60EMA resistance. This configuration marks a critical turning point for the game between bulls and bears: the short-term rebound may continue, but the medium-term trend has not been fully reversed yet. On the four-hour timeframe, the technical pattern shows a “spike up and then retrace, with declining volume.” After price hit a densely trapped prior resistance/lock-in area, it met selling pressure. The RSI indicator quickly fell from the overbought zone to a neutral level around 54. The MACD fast and slow lines show signs of turning above the 0 axis, and the red momentum histogram has begun to shrink, indicating that short-term bullish force is weakening. The market has entered a phase of taking profits and building energy for consolidation, further laying the groundwork for the next rebound.

The current market rhythm shows that bullish strength is resting but has not completely disappeared. The pullbacks observed in the meantime are not a trend-reversal signal, but a typical pattern of taking profits and washing out liquidity to store energy for a future breakout of the strong resistance zone between 65,600-65,800. Today’s trading idea is mainly based on range trading.

Specific trading suggestions: Pay attention to support at 64,300-63,800, as well as 62,800 and 61,800. If support holds, you can continue to try lower entries (low bids). If 61,800 support breaks, it will be considered a short-term bullish structure damage signal; then, in the suggested range, you can attempt short positions near the two area levels.
$BTC #盘前合约上线长鑫存储