Yesterday’s market move was really something—just dragging on and on. After the price dipped to the bottom at 65,500 starting from around midnight, bullish follow-through funds kept flowing in. The coin price showed a bottoming-and-rebound move. The market then kept ranging upward all the way, with the peak reaching around 66,300. The long positions we entered at 65,740 later rose as expected, and the longs were able to smoothly take profit and exit around 663,000, capturing a 500-point short-term range. After that, Bitcoin didn’t keep pushing higher. Bullish short-term profit-takers largely exited, and the market slowly drifted downward as it stepped back. The current price is now around 65,700.

Ethereum followed Bitcoin and synchronized its repair move. It surged with the rebound at midnight, briefly hitting the high at 1,958. After a slight pullback, the price is currently stable around 1,930.

Overall momentum is stronger than Bitcoin’s: the pullback is larger, faster, and the buy-side power for entering at lower levels is very solid. Yesterday’s setup also delivered a modest gain. Going forward, you can still focus on buying the dips by revisiting and taking longs around the downside bottom support.

On the four-hour timeframe, after completing a round of surge from the stage high point, the market is undergoing a pullback consolidation. This current downswing is a benign shakeout within an uptrend. Short-side volume has been steadily fading, and there’s no sign of major capital fleeing in large scale. The support zone built by the previous consecutive rallies is holding strong. During the decline, low-level buyers keep entering in batches to hold up the price, and the overall upward structure remains intact without being broken. The short-term drop is only to digest high-level profit-taking positions, and the adjustment room is gradually narrowing. After the consolidation is complete, the market will restart its upward push. For the next move, Lin Tao suggests that the main focus should be to buy at the lower dips.

Bitcoin 65,000-65,500 range long target 67,000
Ethereum 1,900-1,915 range long target 1,980#Gate事件合约首发狂欢 $BTC ‌$ETH ‌