Midday Market Analysis!

Yesterday, Bitcoin suddenly surged violently, catching many bearish investors off guard. The market is like this—more people are bearish, the easier it is to push prices up in the opposite direction. Currently, the entire internet is bullish, but be cautious of a potential dump tonight.

Bitcoin broke through the triangle consolidation zone, surpassing the 68,248 resistance level, reaching as high as around 70,123 but failing to stabilize, only briefly spiking. To continue upward, it must effectively stay above 70,123, aiming for 70,779-71,778; if it cannot hold, the rebound will be difficult to sustain. Currently, the news does not support a continued rise.

Bitcoin is now in a consolidation zone after the rally, between 69,502 and 68,248, with 68,248 being a key support. It was previously a strong resistance, but after breaking through, it has turned into strong support and is unlikely to be broken easily. Holding this level offers a chance for another rally. If volume increases and it breaks down, a correction will begin, with initial support around 66,927. A significant drop could occur if support fails.

$BTC In terms of trading, a volume breakout above 68,765 can be a light long entry. If it falls below 68,248 and cannot recover on a rebound, consider shorting, but be sure to set stop-losses. If the hourly chart stabilizes above 68,765, look for targets of 69,502-70,100. On the 4-hour chart, if it breaks below 68,312, watch for 66,905-66,247. Resistance levels: 68,765, 69,582, 70,100; support levels: 68,248, 67,142, 66,355.

$ETH Ethereum has returned to a range-bound consolidation, with many false breakouts and false breakdowns. Break above 2026 for a long entry; break below 1997 for a short. If a pullback to 1936 finds strong support, consider going long; stop-loss below 1908. A rebound to 2101 can be shorted, with a stop-loss above 2150. On the left side, you can set a long position at 1885, with a stop-loss below 1850. If the hourly chart stabilizes above 2026, target 2057-2090; if it breaks below 1983 on the 4-hour chart, watch for 1942-1903. Resistance levels: 2026, 2057, 2090; support levels: 1997, 1926, 1885.

Overall market sentiment is extreme, with high volatility. Operate strictly according to key levels, set proper stop-losses,