During the early morning phase, Bitcoin continued to fall from around 76,300, and the market’s focus kept shifting downward. Although the coin showed sporadic minor pullbacks, the overall pace remained centered on a choppy downtrend. Structurally, the lows kept being refreshed, while the highs were gradually pushed down. Earlier in the morning, after a pullback to around the 75,300 area, there was a brief stabilization, but the rebound strength was limited—mainly consolidating repeatedly in the mid-range zone and failing to strengthen the momentum. After entering the daytime phase, the market still maintained a narrow tug-of-war around 75,500. Volatility contracted, but the direction did not change; overall, it continued to be a continuation of weak consolidation. Ethereum moved in sync as well: starting above 2,370, it gradually edged lower. During this period, the height of rebounds kept decreasing, and the shorts’ tempo became smoother. After the market’s low touched around 2,330, there was some recovery, but the upside room was limited; overall, it still traded within a weak range.

　　From the perspective of chart structure, on the 4-hour timeframe, Bitcoin is currently in a pullback structure. The prior uptrend reached a turning point at high levels; the highs failed to keep moving higher and gradually formed a phase of suppression. The key resistance overhead is concentrated in the 76,000–76,500 area. This zone is both near the starting point of the current pullback and an important watershed within the 4-hour structure. Until it is effectively reclaimed, the market has difficulty turning stronger. Support to watch on the downside is mainly the 75,300 and 75,000 levels; once 75,000 is broken, it will further open up room to the downside. On the 1-hour timeframe, there is a secondary structure of oscillation drifting lower, with insufficient rebound persistence. For Ethereum, on the 4-hour timeframe it also entered a pullback rhythm: resistance is concentrated in the 2355–2370 area, while support to watch is 2330 and the 2300 level. In particular, 2330 has been tested multiple times, and support has been weakening. Overall, the broader structure is bearish, and short-term rebounds are more of a corrective nature. In terms of trading, the approach still remains based on short-selling; prioritize entering on rebounds toward the resistance zones. #GatePreIPOs首发SpaceX $BTC