Early this morning, the coin price surged high and then quickly pulled back. After a prolonged sideways consolidation, the price experienced a sustained rapid correction, with a nearly 1800-point retracement. Currently, after touching the lower support, the price has entered a short-term low-level sideways consolidation. I clearly advised friends early this morning to adopt a short-term bearish outlook. Our long position at 70488 points was strongly and accurately captured at 69266 points, gaining 1222 points of space. Our strategy and approach have always been communicated in advance. As this week is coming to an end, friends who want to quickly seize opportunities and escape the dilemma can follow my approach directly.

Looking at the four-hour chart, the price has again formed small consecutive doji and small consecutive bullish candles. The battle between bulls and bears is still ongoing. Overall, the price remains in a state of tug-of-war and fluctuation. From the daily to the four-hour chart, the price continues to bounce around within a large range, with the short-term trend being similar. The fluctuations are mainly driven by daily US market stimuli, causing the range to move slightly up and down. Currently, the price is near the midline, and no strong trend has formed on the chart. Therefore, in the short term, we expect the price to rebound after a quick pullback.

On the hourly chart, after a rapid decline with a bearish engulfing candle followed by a small bullish candle, the price moved above the lower band and then entered a series of choppy sideways consolidations with alternating small bearish and bullish candles. The signs of a bottoming pattern are quite clear, indirectly indicating that the current retracement demand has been largely fulfilled. For the short-term trend, we should watch for the price’s range-bound rebound, with a short-term pullback to participate in long positions.

For Bitcoin, consider going long around 69,300 and watch for 70,500. For Ethereum, consider going long around 2,020 and watch for 2,070.