Good morning friends. Bitcoin maintained an overall consolidation and recovery pattern overnight, oscillating higher and reaching a high of 70,600 in the early morning, then faced selling pressure and pulled back. Currently, it's consolidating around the 70,000 level. Ethereum showed relatively weak momentum, with the ratio rebounding to around 2,155 before facing resistance on the upside, and currently has pulled back slightly to the 2,140 level for adjustment. The short setup I provided at midnight has successfully given entry opportunities, and real positions have been gradually entering. Friends who have followed the strategy, please hold patiently and wait for the market to develop further.

From the current chart perspective, although Bitcoin did produce a thousand-point recovery movement overnight, looking at both the rebound momentum and time cycle, neither meets the conditions for trend continuation. The four-hour level produced a bullish candle recovering some losses, but the volume coordination is clearly insufficient. Rising on tight volume is difficult to form effective continuation, and the current situation still belongs to minor-level correction, not a trend reversal signal. Combined with the hourly level, the movement shows a fragmented K pattern with generally long upper wicks, facing clear resistance around 70,500. Last night's pull back has effectively broken a key support level, opening up further downside space, and short-term has not yet shown a strong stabilization signal. Therefore, our short strategy requires no changes.

Bitcoin: Short around 70,500, targeting 68,000 on the downside.
Ethereum: Can short around 2,180, targeting 2,060 on the downside. #Gate13周年全球庆典 $BTC