During the midnight phase, Bitcoin consolidated at low levels with oscillating recovery. After a brief pullback, the center of gravity gradually shifted upward, reaching approximately 70880 in the early morning. However, the entire uptrend lacked sustained volume momentum and was mainly technical retracement within the range. After the spike higher, the market quickly entered consolidation at elevated levels, indicating selling pressure remains at the top and short-term bullish sentiment is weak. Ethereum moved in sync, gradually rising from lows to touch around 2167, similarly lacking continuation at highs and maintaining consolidation. This aligns with the trend outlook I provided at the end of my early morning livestream. Overall, the price action from early morning to now represents rhythm recovery after the previous decline, rather than a trend restart.

From the current chart structure, Bitcoin's 1-hour level shows obvious horizontal consolidation after consecutive retracements, with increasing small-bodied candles indicating short-term momentum is slowing. Structurally, this is a digestion phase after the spike. The 4-hour cycle still hasn't escaped the pressured rebound pattern. If the upside fails to form effective continuation, subsequent pullback confirmation becomes more likely. Therefore, current bias remains leaning toward shorting rebounds and is not recommended to chase longs blindly in this high-level consolidation structure. Ethereum similarly shows post-spike horizontal recovery, with short-cycle rebound slope already slowing and K-line arrangement flattening, indicating insufficient buying persistence. Overall pattern still belongs to pressured state after retracement, so maintaining short bias is more prudent while waiting for pullback opportunities after rebounds end. #Gate13周年全球庆典 $BTC