This week's market first surged, then retraced from a high position, and on Tuesday entered a consolidation phase. Today is Wednesday, Bitcoin has two consecutive bearish days, with the price pulling back to test the mid-tract support, which has not been broken yet. Although the upper track is opening downward, the mid and lower tracks are still rising, while the KDJ has turned downward and the MACD bearish volume is increasing, once again putting the market in a state of long and short discrepancies...

On Monday, the market first squeezed the shorts, then retraced from a high position, taking the chasing longs along with it. On Tuesday, it consolidated at a low level, giving the impression that the bulls were unable to reclaim lost ground, and the rebound lacked strength, causing those who missed the short opportunity to chase the shorts at a low level. Now on Wednesday, a little rebound has trapped those who chased shorts. The recent market behavior has been a repeated washing out, with back-and-forth fluctuations.

Currently, on the hourly and 4-hour levels, the market is rebounding. The focus for today is on the strength of the rebound, observing the suppression of the mid-tract at the 4-hour level. Short positions can still consider a small attempt around 77,000, after all, chasing long positions at this level may not be so stable. If it is under pressure and retraces, watch for support at 76,000, 75,000, and 74,000 below.

The price of Ethereum has reached around 2,310, and it is currently testing the mid-tract resistance on the 4-hour chart. At the same time, this is also the mid-tract resistance on the daily chart. In the case of double resistance, it is still advisable to continue shorting. Those without short positions can consider opening a short position around 2,310. If it comes under pressure and retraces, pay attention to the support levels at 2,250, 2,200, and 2,150 below.

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