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Market Technical Analysis: BTC Bottoming Out and Rebound Expected, ETH Oversold and Awaiting Consolidation Repair
The hourly chart for Bitcoin confirms a downtrend, with the 15-minute MACD gradually losing momentum at low levels. Bearish momentum continues to weaken, so heavy short positions are not recommended. There is still clear support on the four-hour chart, with around 69,000 being a key defensive level. The price is likely to test the bottom a second time before triggering a rebound, with short-term trading mainly ranging.
Ethereum has experienced a significant decline this round, with the trend structure completely broken. A direct reversal upward is highly difficult. The 15-minute bearish volume has reached $400 million, and indicators are in oversold territory. The previous key support at 2110 points on the hourly chart has now turned into strong resistance. It is expected that the subsequent movement will mainly involve shrinking volume to form a bottoming process and a bullish divergence, followed by consolidation and then a technical rebound.