This morning, the overall cryptocurrency prices experienced a volatile downward tug-of-war, with the price testing support near 80.6k. The bears did not achieve a clear breakthrough but instead showed a relatively strong rebound in the short-term cycle, forming a bottom and bouncing back. Currently, the price has risen again above 81k. The short-term bearish signals given earlier still present good profit opportunities. A short position from 81,400 to 80,700 easily captured about 700 points. Although this short-term bearish idea faced some setbacks, overall, the trading rhythm remains favorable. Grasping the pattern structure and trend judgment is especially crucial for the current market situation.

After encountering support at the lower band on the hourly chart, Bitcoin has now formed three consecutive strong bullish candles, moving towards the middle band. The short-term bearish volume continues to shrink, indicating that the recent price correction and recovery are basically complete during the Asian trading session. If the price can hold above the previous low point near 81.5k during the European session, then the short-term and swing trading strategies should shift to focus on the continuation of the upward trend. Considering the news, the sudden reversal of the US-Iran situation, and the recent exhaustion of bearish momentum in the US dollar and crude oil, the market has not yet formed a strong turning point. Therefore, we should promptly shift our outlook to expect the upward trend to continue, and participate in pullbacks for long entries.

Bitcoin is long around 81,000, watch for around 82,000.
Ethereum is long around 2,320, watch for around 2,370.
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