The early morning surge laid a solid foundation for the opening session, with the current price oscillating around 68,500. This is a typical consolidation phase after a significant rally. From a technical perspective, this high-level sideways movement is often seen as a bullish continuation pattern, indicating that after digesting short-term profit-taking, the bulls are expected to further exert strength. Currently, the price has broken through the psychological barrier of 68,000 and is holding above it, turning previous resistance into support, which opens up space for subsequent upward movement.

The hourly chart shows a high-level sideways consolidation following a rally, with frequent lower shadows on the candlesticks, indicating strong buying support during pullbacks. The market is undergoing a forceful correction that trades time for space. As long as the 68,000 support holds, a brief accumulation could lead to a second push higher. From the moving average system and volume-price relationship, the short-term moving averages have formed a golden cross and are diverging upward. The price is firmly above the EMA15, which has moved up to around 68,300, providing dynamic support for the price. The surge in the early morning was accompanied by a significant increase in trading volume, a typical signal of bullish capital entering the market.

Bitcoin outlook: Buy near 68,000, target 69,500
Ethereum outlook: Buy near 2,050, target 2,150