This week's market displayed a typical rise-then-fall pattern. After prices stabilized at $65,500 at the beginning of the week, buoyed by positive news and institutional buying, bulls launched a strong counterattack, surging to a weekly high of $73,880 on Friday. Although prices subsequently experienced a technical pullback and are currently trading around $71,400, the overall structure shows that bulls still maintain absolute control this week. From a chart perspective, Bitcoin formed a long upper-shadow bullish candle on the weekly timeframe, indicating that upside momentum has encountered temporary resistance, but the buying support below remains strong; Ethereum simultaneously completed bottom elevation and stabilized above key support levels.

From the current technical formation, the pullback has not broken the rising channel on the weekly timeframe. Bitcoin has formed a new support zone in the $71,300-$70,800 range, which serves both as a previous high-volume trading area and as the 0.382 Fibonacci retracement level of the current rally wave. On the 4-hour timeframe, although the MACD fast and slow lines have formed a death cross at high levels, the green histogram momentum has not shown significant volume expansion, suggesting limited selling pressure—a healthy correction within an uptrend. For Ethereum, the price remains steadily above the 4-hour Bollinger midline, with the $2,080-$2,050 zone providing strong defense below. If Bitcoin can hold current support, Ethereum is poised to stabilize and rebound first.

For operations, the recommendation is to primarily focus on pullback longs. Bitcoin can establish long positions in batches in the $70,500-$70,800 range, with a stop-loss set below $69,800 and targets at $72,500-$73,000; if it directly breaks above $71,800, bulls are likely to regain strength. Ethereum is recommended to enter long positions in the $2,080-$2,100 range, with stops below $2,050 and targets at $2,150-$2,180. Considering that market sentiment has warmed this week and the pullback shows contracting volume, the near-term correction may be building momentum for a second push higher next week. Maintain a cautiously bullish approach. #Gate广场AI测评官 $BTC