Yesterday, the market formed a bottom-rebound structure, with multiple timeframes resonating, resulting in significant fluctuations on the surface, presenting a short-term up-and-down rhythm. From the current cycle perspective, as of this morning, the 4H, 6H, 8H, and 12H are still in an ascending cycle, with a short-term structure leaning towards strength. However, following continuous fluctuations, it is more likely that today will enter a phase of slight oscillation and consolidation, with both bulls and bears having opportunities to participate.

From a macro perspective, the U.S. stock market has continued to rise strongly, which typically supports risk asset sentiment recovery and provides certain support for the cryptocurrency market. Additionally, the weakening of crude oil and a slight easing of geopolitical tensions have, to some extent, alleviated inflationary pressures, offering external environmental support for the market. However, it is important to note that on Thursday and Friday, the market turned around midway and underwent three consecutive days of adjustment, overall resembling a process of washing out, with funds being redistributed at high levels.

From a broader structural viewpoint, although Bitcoin's weekly chart has shown a pullback, the overall strong pattern has not been broken and remains in a normal repair phase within the trend. In summary, the current market belongs to a structure of strong short cycles while the long cycle stabilizes and repairs. It is more suitable to look for rhythm during oscillations in operations rather than having a one-sided expectation.

This article is published by 【Huiying Community】, representing personal views only. Due to the information transmission delay, the content is for reference only and does not constitute any investment advice. Please make rational judgments and proceed with caution.
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