The daily consolidation phase saw Bitcoin and Ethereum move through a back-and-forth oscillating market overall. After the morning session probed lower, support quickly emerged. Bull momentum within the consolidation gradually strengthened, pushing prices higher, accompanied by several volume-driven surges. However, following consecutive attempts higher, the market failed to sustain a breakthrough. Instead, frequent pullbacks from elevated levels emerged, with K-lines showing shortened bodies and increased upper wicks, indicating growing divergence among capital at higher levels. The afternoon session showed a notably slower pace, with price action repeatedly fluctuating within its range. Market sentiment shifted from active offense to cautious observation. Overall, while bulls showed some performance during the daily consolidation, sustenance was lacking, with weakening intent to absorb at higher levels, gradually pushing the market into a consolidation state.

From the current chart perspective, Bitcoin is in a consolidation phase following its rebound on the 1-hour level, with multiple attempts to hold ground above failing to establish clear support, while volume concurrently contracts, indicating weakening bull momentum. The 4-hour level still hasn't escaped the oscillating pattern, with incomplete rebound structure—essentially horizontal consolidation within weak recovery. Any loss of support will easily trigger continued declines. This morning also clearly mentioned observing the resistance level strength around the 68700-69000 zone for Bitcoin. Ethereum's structure is synchronized, showing high-level weakened oscillation on the 1-hour, with rebound heights gradually converging. The 4-hour remains trading within its range without forming an effective breakthrough. Key support is at the intraday low zone; any retest and break below will open downside space. In comprehensive assessment, larger timeframes remain not strengthened, while short to medium timeframes are biased weak. The subsequent approach remains clearly favoring shorts as the main direction. Friends not yet positioned can wait for confirmation of rebound resistance before deploying short positions to follow the trend.#Gate13周年全球庆典 $BTC