Last week in the second half, I kept emphasizing: the rebound on the daily chart has not yet ended, 70,800 will not be effectively broken downward, and the rebound target is around 74,000–76,000. Ethereum is focused on the 2,380 level. The first two days of this week have already confirmed this. At that time, market sentiment was overwhelmingly bearish. I can't say I am the only clear-headed person, but in this market, the correct voices are often held by a minority.

Returning to the current market, the rebound on the daily chart can basically be confirmed as having come to an end. Selling pressure above is gradually emerging—Ethereum is showing significant chip turnover in the 2,380–2,395 range, and Bitcoin is also under pressure above 74,900. The upward movement was accompanied by strong shakeouts. This kind of rise is more like a short squeeze rather than a trend continuation; fundamentally, it still appears "虚" (虚 = hollow/fake), making it difficult to form a sustained structure.

From the perspective of extreme liquidations, if emotions continue to spiral out of control and push strongly, 78k–79k may not be the end point; the real limit could be around 85,000. But given the current pace, I am not optimistic about this continuation, at least in the short term, the conditions are not yet met.

To sum up in one sentence: the rebound has been fulfilled, emotions are overextended, and what is needed next is defense, not blind chasing. $BTC