In the morning, Bitcoin continued its bullish momentum, with prices rapidly rising and breaking through key resistance levels, briefly reaching high territory. However, market sentiment slightly cooled down, and prices gently retreated from the highs, entering a technical correction phase. Currently, the market presents a high-level consolidation pattern, with short-term bulls and bears battling near key support areas, and the overall correction magnitude is manageable, not yet damaging the short-term upward trend structure.

From a technical perspective, this round of correction falls within the normal range of adjustments. After a rapid surge in prices, short-term positions need to be reallocated to digest profit-taking pressure. If the key support area below can stabilize, there is still potential for a rebound. The MACD indicator's dual lines maintain a bullish arrangement; although the histogram has slightly contracted, the overall trend has not weakened, and the volume during the pullback has not significantly increased, indicating limited market selling pressure. If prices can hold the support after a pullback, there is potential for a strong push to break previous highs and continue the oscillating upward momentum. In terms of operations, attention can be given to low-buying opportunities during the pullback, with the defensive position set at the lower edge of the recent consolidation platform. If there is a significant volume drop below this level, caution should be exercised regarding the risk of a deeper short-term adjustment.

BTC 86500-86000 long, target 88000

ETH 1600 level long, target 1680