The midnight phase saw Bitcoin consolidating and repairing around low levels overall, with the center of gravity slowly moving upward after a brief pullback. The early morning high touched around 70880, but the entire upward process didn't demonstrate sustained volume-driven movement—instead showing more technical retracement within the range. After the rally, the market quickly entered sideways consolidation at higher levels, indicating selling pressure remains above, and short-term long pursuit intention is not strong. Ethereum moved in basic sync, slowly rising from lows to touch around 2167, similarly lacking continuation at higher levels and currently maintaining consolidation. This is largely consistent with the trend expectations I provided at the end of the early morning livestream. Overall, the market from midnight to now represents more of a rhythm correction following the earlier decline, rather than a trend restart.

From the current chart structure, Bitcoin's 1-hour level shows obvious horizontal consolidation emerging at highs after consecutive retracements, with increasing small-body candles indicating short-term momentum has begun to slow. Structurally, this belongs to a digestion phase after a rally, while the 4-hour cycle still hasn't escaped the pressure format within the rebound. Once the upside fails to form effective continuation, subsequent movements will more easily shift to pullback confirmation. Therefore, the current approach still leans toward fading rallies on bounces—not recommended to blindly chase longs in this high-level consolidation structure. Ethereum similarly presents sideways repair after rallying, with short-cycle rebound slope already slowing and candle arrangement becoming increasingly flat, indicating short-term buy volume persistence is insufficient. The overall pattern still belongs to a pressure state after retracement, and operationally, maintaining a short bias remains more prudent, awaiting the pullback opportunity after the bounce ends.#Gate13周年全球庆典 $BTC