Market Review and Technical Analysis

$BTC

Recently, from 63,000 all the way up to 74,000, the market has started to pull back. Yesterday, a long upper shadow bearish candle was formed, directly breaking below the short-term 5-day moving average, indicating that the bullish momentum at high levels is weakening. We are now entering a high-level correction cycle.
On the 4-hour chart, after the high-level pullback, multiple rebounds encountered resistance at the EMA15/30 moving averages. The price is also trading below the EMA15, suggesting that the short-term bears are in control.
On the 1-hour chart, the price fluctuates around 71,000, with candlesticks alternating between bullish and bearish. Neither bulls nor bears have gained an advantage for now, indicating a typical consolidation phase.

$ET

In conjunction with Bitcoin’s trend, the overall market is also in a high-level correction phase.
The resistance zone above 2110-2150 is strong; multiple attempts to break through have failed to stabilize. The key support zone below 1940-1900 must hold; if broken, the downside space will open up.

II. Trading Ideas and Strategies
Bitcoin (BTC)

Long-term bearish approach:
If the price stays within 73,000-72,500, consider gradually opening short positions. Place stops above 73,500. The initial target is 70,200-69,500. If the price continues to break down, look toward around 68,500.

Cautious long positions (short-term):
If the price retraces to 69,000-69,500 and stabilizes, consider gradually adding long positions. Place stops below 68,500. The initial target is 70,500-71,300.

Ethereum (ETH)

Long-term bearish approach:
If the price stays within 2090-2110, consider gradually opening short positions. Place stops above 2150. The initial target is 2050-2020.

Cautious long positions (short-term):
If the price retraces to 1940-1970 and stabilizes, consider gradually adding long positions. Place stops below 1900. The initial target is 2010-2050.

Risk Warning

Tonight’s non-farm payroll data presents the greatest uncertainty. Market volatility will be intense before and after the release. Be sure to control your positions and set proper stop-losses.
Although the Middle East geopolitical situation has temporarily eased, ongoing developments require close attention. Any sudden news could instantly change the market landscape.