The market is running relatively calmly. Yesterday, the 2H, 4H, 6H, 8H, and 12H multi-timeframe resonated upward, and the bulls continued for the whole day. However, due to insufficient liquidity over the weekend, the key resistance level was never effectively broken, leading to an overall high-level oscillation. The current structure still maintains the pattern of "strong Bitcoin, weak altcoins," with Bitcoin making several attempts to challenge the resistance around 81,000, while Ethereum failed to reach the crucial level of 2,347, and the divergence continues.

The sentiment remains cautious, with the fear and greed index holding at 38 (fear zone). Although it has recovered from a previous state of extreme fear, there is still a gap before the risk appetite fully rebounds, and the market has yet to form a consistent bullish atmosphere. Meanwhile, miner reserves have shown a noticeable decline recently, and if the subsequent selling pressure continues to be released, it will pose additional resistance to a strong return in the short to medium term.

In summary, this is currently a phase of bulls continuing but with limited momentum. The combination of upward pressure and liquidity constraints suggests that the market is more likely to digest positions through oscillation and wait for new capital-driven directions before deciding on a direction.

This article is originally published by 【Huiying Community】 and represents personal views only. Due to delays in information transmission, the content is for reference only and does not constitute any investment advice. Please make rational judgments and operate cautiously.
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