This afternoon, Bitcoin and Ethereum both entered a consolidation phase, showing clear signs of repeated tug-of-war in the market. Bitcoin initially fluctuated within a narrow range around 67,800, then experienced a small retracement. After touching a low near 67,400, short-term funds stepped in to push a rebound, briefly rising to around 68,200. However, selling pressure above prevented a successful breakout, and the price soon entered a decline again, currently back around 67,700. Ethereum's overall rhythm remained consistent with the market, oscillating upward from around 1,960 in the afternoon, reaching a high above 1,990 during the session. However, the bullish momentum did not sustain, quickly giving back gains and gradually falling back to around 1,970 for sideways consolidation. I also suggested a short position during midday, aligning with the current structural rhythm. Although intraday volatility was limited, the small gains during the pullback allowed for a quick profit-taking. Often, you don’t need to wait for a major trend to make gains; in sideways markets, mastering the rhythm and steady accumulation within small ranges is also a sign of skill. Looking at the market’s movement trajectory, despite multiple rebounds during the day, the overall upward momentum remains weak, with highs gradually decreasing. Market sentiment is becoming more cautious, with funds more inclined to reduce positions or exit during rebounds. The short-term structure is gradually shifting from consolidation to a more weak trend.

From the current market perspective, Bitcoin’s short-term structure has gradually formed a downward suppression pattern. On the one-hour chart, the price has yet to stabilize above the moving average system. The middle band of the Bollinger Bands continues to press downward, and the highs are moving in a stepwise fashion, indicating that the bearish momentum is gradually gaining control. The key resistance zone above is concentrated between 68,000 and 68,200, which is both the previous rebound high and the overlap area of the Bollinger middle band and short-term moving averages, showing clear technical resistance. If a rebound again reaches this zone without a volume breakout, a decline is likely to follow. The first key support level below is around 67,400; if broken, bearish momentum could further accelerate, with targets extending toward 67,000. For Ethereum, the one-hour and four-hour structures also show weak consolidation, with resistance between 1,985 and 2,000, and key support around 1,950. If this support is broken effectively, the downside could extend toward 1,920. In summary, the current short-term market trend leans more toward a bearish run, and future trading strategies should focus on shorting rebounds. #2月非农意外负增长 $BTC