Defense remains as tough as ever—65,500 is a well-deserved top stronghold. Over the weekend, the market rebounded to repair the prior move. After the early breakdown lower to around 63,600, price steadily lifted higher and then rebounded in the morning to around 65,500. The rebound room given is also very ample. Yesterday, I also reminded everyone: the current market’s high-pressure level is 65,500. This level is the start point of the recent bottom-top conversion, and it is also the next major defense gate that suppresses price at the recent high.

As for ETH, it’s relatively stronger. This morning it saw a strong push upward, with the highest rebound reaching around 1,966. If any friends are stuck short-term, hold your short positions normally for now—don’t rush to get out.

As for why, everyone probably already knows: in the short term, regardless of how big the rebound room is, as long as the high-pressure level isn’t broken, market pullbacks will still be the main theme. The short-side trend hasn’t changed, and getting pressured is only a matter of time—so for the outlook, our short-position setup will continue as before.

On the four-hour timeframe, the upper band suppression plus the pressure formed by the 65,500 bottom-to-top conversion area creates a “double domination” over price. In the short term, the rebound has not had real volume support, and any breakout has not been sustained. On the hourly timeframe, after a brief surge high, it then formed continuous downside pressure. The market has formed consecutive bearish candles, and the effect of being under pressure has already started to take shape. Going forward, keep the short-bias idea. For anyone with longs trapped near the bottom, take your own cue from the short entries mentioned for the future and adjust your average/adding accordingly.

BTC short around 65,500 target 63,500
ETH short around 1,965 target 1,880
#直通IPO第二期JerseyMikes $BTC ‌