In the morning, the rebound touched the high and met pressure for consolidation adjustment. At present, the Bitcoin price spread is still unable to break through the 79,500 area any further. In the short term, it remains a ranging structure. The key resistance overhead still requires attention to whether 79,500 breaks; only then should we look for whether the bulls can continue. Ethereum has recovered during the day—after reclaiming and breaking through 2,400 with a wick/pin breakout, it fell back into consolidation. Currently, after the rebound back to the 2,400 level, it faces renewed pressure, and has again adjusted to 2,390 for consolidation. After closing the Bitcoin intraday short positions at breakeven, longs are now being exited following the trend, taking profit about 400 points away.

From the current market structure, the 4-hour chart has further broken down and then reclaimed—after breaking the post-holiday sideways consolidation, it further opens the Bollinger Bands. However, the trading volume during the daytime session is not sufficient, and the key overhead suppression at 79,500 remains unbroken. On indicators, the KDJ three lines are sticky, with a risk of a death cross. And the price spread pull-up in the morning has also fallen into an overbought range. In the short term, any attempted breakout with increased volume will still be further blocked. If we look at it purely as a staged adjustment, as for the current relative strength between bulls and bears: before 79,500 breaks, do not chase longs deeply. For rebounds, short setups can be considered.

Bitcoin can be shorted around 79,300, targeting around 78,300. For Ethereum, watch the 2,380 break to position accordingly. #比特币突破7.9万美元 $BTC $ETH