Early morning market saw Bitcoin temporarily recover and test the high of 74,000 but faced resistance. During the early session, it briefly retreated to around 72,300 before rebounding again, forming a morning closing rebound. Currently, the market is still in a consolidation phase at higher levels. Ethereum touched 2199 early morning and faced resistance; it surged higher but did not break below the 2100 level. The overall trend remains intact. We predicted a target of around 74,000 and 2200 early morning, which was precisely reached. Although there were no opportunities for long entries in the spot market, we attempted to position for short positions at higher levels with some success. At this stage, avoid being too rigid in your approach and pay attention to the upcoming adjustment range.

From the current market perspective, the overall trend is in a consolidation phase after testing higher and pulling back. Resistance at the 74,000 level indicates decreasing bullish momentum. The entire market is entering a range adjustment and accumulation phase. Although short-term resistance is near 72,300, Fibonacci retracement suggests support at the 71,400 bottom. On the four-hour chart, the pattern shows a secondary adjustment, further confirming the consolidation range for reclaiming higher levels. The trend still maintains a sideways upward approach, and there are still opportunities for long positions on pullbacks.

Bitcoin can consider a long position at around 72,300, targeting near 74,000. Ethereum can consider a long position near 2100, targeting near 2200.