Reviewing the midnight market, the overall trend was initially upward followed by a correction. Bitcoin first recovered to around 72,000 and faced resistance, then the market saw a short-term increase in bearish volume. The price briefly fell to around 71,000 to halt the decline. With a second rebound, the bulls are becoming increasingly weak. Currently, the price is again testing around 71,000 for consolidation. Ethereum experienced a larger decline, rebounding to around 2,240 before facing resistance and pulling back. The price encountered increased bearish volume and has now fallen below 2,200, maintaining around 2,180 with sideways consolidation. Overall, the bullish recovery has been hindered, and although there has been no further breakdown in the short term, a certain amount of bearish volume has already emerged.

Looking at the current chart, the daily candle has shifted from a large bullish candle to a small bearish candle, retracing part of the intraday gains. While not fully retraced, the selling pressure at high levels is becoming more evident. The overall market remains in a relatively weak consolidation phase rather than a bullish upward trend. Combining this with the four-hour chart, after two upper shadow candles probing up to 72,800 and facing resistance, the overall price adjustment shows long upper shadows, indicating that the current bullish structure is still relatively weak. The current correction is a process of trading time for space, and the Bollinger Bands are still trending upward. In terms of trading strategy, maintain a phased short position, paying attention to the breakout of resistance levels.

Bitcoin can be shorted in the 71,000-71,500 range, with targets around 70,300-69,300. Ethereum can be shorted in the 2,190-2,210 range, with targets around 2,150-2,110. #加密市场回升 $BTC $ETH