Morning Analysis

After a sharp decline last night, prices quickly rebounded, triggering a short-term oversold correction. However, the 70,000 level remains a strong resistance, and bulls currently lack the momentum for an effective breakout.
In the early trading session, prices stabilized around 68,000. On-chain data shows that whales are adding positions at low levels, and long-term holders have limited selling pressure. The market is currently in a consolidation and bottoming phase, not suitable for a one-sided trend. It’s necessary to wait until the floating supply is fully cleared before choosing a direction.
Maintain strict position control, focus on selling high and buying low, patiently wait for a trend to emerge, avoid heavy chasing and panic selling.
Trading Recommendations
Short positions around 69,500-70,000 for Bitcoin, targeting 67,500-67,000
Short positions around 2,040-2,070 for Ethereum, targeting 1,900-1,930$BTC $ETH #Gate2月透明度报告