This upward move is only a technical rebound correction, not a reversal. With no volume at high levels and weak buying pressure, multiple attempts to push higher were met with resistance after reaching key resistance levels. Selling pressure above is heavy, and bullish momentum is insufficient.

The rebound slowed down in the second half of the night, unable to break through the high-level consolidation, and the market entered a pressure consolidation phase. Four-hour rebounds repeatedly failed to break the key resistance, and in the early morning, a sharp rise was followed by a pullback, confirming that the area above is a strong defensive zone for the bears.

Overall, it remains a correction after a rebound, without forming a new upward trend. Before the price stabilizes above the early morning high, there is still a need for a pullback.

BTC: around 68,500-69,200, with a target lower range of 67,500-66,000

ETH: around 2,120-2,160, with a target lower range of 2,070-1,980