Today’s overall market conditions show a pattern of strong upside spike followed by high-level range-bound consolidation. BTC launched a rapid rebound from the early-morning low, once breaking through the high-pressure resistance zone around $72,500; then it repeatedly oscillated within the $71,000–$72,000 range to digest selling pressure. ETH moved in sync with Bitcoin’s pace: after briefly surging in the morning to around $3,520, it pulled back slightly. Overall, it maintained a steady follow-through uptrend; the coupling between the two coins remains the core feature of the board.

On the daily timeframe, after the price completed its attempt upward, it entered a phase of high-level consolidation and stabilization. However, the upward channel structure has not been broken; the moving average system still remains in a bullish arrangement and continues to provide support, indicating that the medium-term bullish trend is still dominant. That said, today’s early-morning spike did not continue as one-way strong momentum, but instead showed clear short-term profit-taking; the risk of short-term momentum fading should be watched closely.

The four-hour chart shows that after the price broke above the upper channel band, there were signs of a bearish divergence. The MACD indicator shows reduced volume at high levels, suggesting that the bulls’ push has weakened. The current consolidation is not a trend reversal, but a process of shaking out at high levels and building up power again—its purpose is to digest the trapped positions above and the profit-taking supply, in order to lay a solid foundation for the next move.

In terms of trading approach, today’s core strategy is mainly to buy the dip.
Specific trading suggestions: keep an eye on the support zones at 70,500–70,000 and 69,500–69,000. If price moves down to test support but does not break it, you can try buying the dip. As price moves up, there is room of 5,000–6,000 points. A valid breakdown below 68,750 support should be regarded as a short-term trend reversal.