Supported by consecutive positive CPI and PPI data in the earlier period, the market rebounded. But after “big pie” pushed up to around 65,580, it lacked the strength to break higher and never managed to touch the 66,000 level. The market shifted from strength to weakness, and the low dipped to 63,580. Ethereum weakened in tandem as well; after continuously pulling back from its 1,946 high, this round’s low touched 1,820. In the short term, the overall market has fully entered a weak downward structure.

All intraday rebounds are merely a form of oversold weak correction/repair. The rebound strength is extremely weak, and the follow-through is very poor. From yesterday to today, there have been no technical signals indicating a floor, stabilization, or a reversal into strength—support levels were broken one step after another. Rebound needs a strong, powerful bullish long candle; until it appears, don’t chase the rally. #BTC