The recent market trend in the crypto space is quite interesting. I’ve looked at the movements of Bitcoin and Ethereum, and they both seem to be in a critical consolidation phase.

Bitcoin is currently hovering around 66,500, with daily candles closing mostly bearish these days, but the lower shadows are quite long, indicating there are still some buyers stepping in at lower levels. On the 2-hour chart, the volatility is gradually narrowing, which looks like something is brewing. Technically, although the MACD is still in a bearish state, the green bars are shrinking, suggesting a short-term rebound might occur. I personally think we should watch the 91,000 level; if it can break above that, it could continue to move upward. Currently, the market sentiment is quite cautious, with many waiting for this breakout.

Looking at Ethereum, the current price is around 2,050, oscillating repeatedly in the 3,100+ range, but it has yet to effectively break through previous highs. The daily candles alternate between small bullish and bearish candles, and trading volume has significantly decreased, indicating a somewhat subdued market enthusiasm. From a technical perspective, there are signs of a short-term rebound, but the overall trend remains under pressure. Sentiment towards Ethereum also seems less optimistic, with everyone watching to see if it can break through this resistance.

Overall, whether Bitcoin can effectively break above a key level may determine the short-term direction of the crypto market. As for Ethereum, it’s advisable to watch more and act less until clearer signals emerge before considering participation.