The overall intraday trend mainly revolves around oscillations and pullbacks after facing resistance at high levels. Bitcoin surged to around 69,000 in the early morning but did not break higher, instead showing signs of weakening momentum amid repeated consolidations at high levels. During the day, several rebounds failed to regain key levels, and the market remained oscillating below resistance zones. After noon, this sideways consolidation did not change the original rhythm; with continued selling pressure above, the bears gradually released in the afternoon, opening up more space for a pullback. Bitcoin dropped to around 65,700 before finding a bottom and consolidating. Ethereum moved in tandem, also falling back after a high-level oscillation, breaking support zones and touching lows near 2010. Although both saw some rebounds in the evening, they still haven't re-entered the strong intraday structure. In the afternoon, the market also presented a rebound and shorting strategy, successfully capturing the downward momentum. Therefore, market sentiment often does not change direction due to emotional fluctuations; what truly determines the outcome is whether one can read the rhythm at key points and exercise patience until the most opportune moment to act.

Looking at the subsequent market structure, after Bitcoin's recent rebound from lows, focus should be on the upper boundary of the previous consolidation zone and resistance around 67,500. This area is not only where multiple intraday pullbacks occurred but also a critical point for reversing the weak structure in the short term. If it cannot be effectively stabilized above this level, further testing of the 65,000 level is expected. Once 65,000 is broken again, the downside could extend toward 64,000. For Ethereum, resistance remains concentrated between 2080 and 2100, which is the main structural resistance formed during the previous decline. If the rebound cannot break through this zone, the 2000 level will face repeated tests. If it fails, further downward exploration of lower supports is possible. Currently, the 4-hour structure shows moving averages still under downward pressure, and the volume during rebounds is insufficient, indicating that the market is mainly undergoing technical correction rather than trend reversal. Therefore, the trading strategy should continue to focus on shorting rebounds, waiting for confirmation of resistance before taking short positions for more stability.