During the night, Bitcoin rose to around the 76,000 level, then met resistance; after being pressured, it expanded downward and pulled back. The market kept oscillating and trending lower all the way; after it broke below 74,500, it continued probing lower, with the lowest point touching around 73,700 where it appeared to stop the decline. Afterwards, the market failed to keep falling; instead, it quickly reclaimed and resumed trading above 74,000. After that, it broadly consolidated with repeated oscillations around the 74,000 area. During this period, it repeatedly pulled back to around 73,700, but did not make any new lows again, while upside rebounds multiple times met resistance around the 74,500 area and pulled back. The market entered a narrow consolidation range.

As for the current intraday market conditions, the daily chart is still operating within a high-level oscillation range, and the overall trend has not been broken. The key support around 73,000 has not been touched, which is a normal pullback within a strong market. The recent pullback on the 4-hour timeframe did not form a trending bearish decline; instead, it was a sideways correction within the high range after the earlier upmove. Currently, the market has returned to the midline area, indicating that bulls and bears are in a rebalancing phase. The key is the 1-hour timeframe: the weak structure where the prior highs shifted downward, after finding a stop to the decline at 73,700, has already been weakened. The market has started to take on a shape characterized by higher lows stabilizing and converging volatility. In essence, this structure is more akin to building up momentum rather than continuing the sell-off. If, in subsequent price action, the higher highs can be raised gradually and resistance around 74,500 is broken, then the 1-hour structure will shift from consolidation to an upward move, which would drive the 4-hour timeframe to retest the upper edge of the range. Therefore, from the perspective of structural evolution, the current situation is not one where the bears dominate; rather, it is in a re-accumulation stage after a pullback. Going forward, it is more likely to extend upward for repair and even once again challenge the previous high area. Overall, the direction leans bullish.#加密市场回升 $BTC