The overall intraday market trajectory is relatively clear. During the midnight phase, BTC, after oscillating around the 76,000 level, quickly dropped, with the low reaching around 74,700; afterward, it completed the selling decline, then gradually began to recover. In the early-morning phase, based on the assessment of pressure bearing at high levels, a short-selling idea was provided in advance, allowing a smooth capture of this pullback range. As the pulldown was completed, the market shifted into a repair/recovery rhythm and entered the bullish push that began in the “white-ping” midday session, with price rising step by step and breaking through the 77,000 level. During this period, the pullback strength was relatively weak, and the structure remained upward. From the afternoon to the evening, BTC continued higher after repeatedly consolidating above 78,000; the high touched around 79,400, and then the market entered a high-level oscillation phase. Ethereum’s trend was basically synchronized: during midnight, it fell to around 2,280 to stop the decline, then oscillated upward. After a mid-day surge that broke through 2,360, it entered a sideways consolidation. In the evening, after probing above 2,420, it faced pressure and pulled back. Overall, it also displayed the same rhythm of first pulling back, then moving upward, and finally consolidating at high levels.

　　From the current market structure, BTC’s daily timeframe is still in an upward trend, but after continuous rallies, it has gradually moved closer to the relevant phase resistance area. On the 1-hour timeframe, the market shows an oscillating upward trend, but upward momentum has started to weaken at the margin; the strength with which the highs extend is not as strong as in the earlier phase. Focusing on the 4-hour timeframe: it currently falls within a high-level consolidation structure after a round of push-up gains. Multiple attempts to probe around 79,500 failed to achieve an effective breakout, creating clear suppression. At the same time, the candlestick bodies have shrunk and momentum has faded, showing a degree of lag/late-stall characteristics, which suggests there is a need for a downward correction. As for Ethereum, the daily chart also maintains a bullish alignment, but the 4-hour structure has already entered a high-level platform consolidation; repeated tests from above have not worked, and short-term momentum has also weakened in sync. Overall, the current situation is more inclined toward the phase of consolidation with a downward correction after an upward move. Therefore, the short positions arranged at high levels during the day have not yet reached the psychological stop-loss region; continue holding, add on dips for a view of downside, and the subsequent trading approach remains: shorts first at high levels. #Gate13周年现场直击