Bitcoin continued to show weakness yesterday, with prices extending their decline in the morning, reaching a low of around 74600. In the subsequent rebound and recovery phase, prices gradually rose, peaking at around 79500 during the evening trading session, successfully reclaiming the losses from the previous day. After that, prices fluctuated within the range of 79000-78000. Ethereum's movement was similar to Bitcoin's, dipping to around 2150 in the afternoon but then successfully rebounding, recovering the intraday losses and briefly rising to 2400, before falling back again, currently maintaining a range of 2360-2320.

Macroeconomic Analysis: Market Sentiment Eases, U.S. Government Shutdown Still Affects

Currently, the impact of macroeconomic factors has eased, especially as the previous panic selling has diminished. However, parts of the U.S. government shutdown still exert some pressure on market sentiment, preventing the panic from fully dissipating. Additionally, although the selling wave in the cryptocurrency market has subsided, investors remain cautious about future policy uncertainties. Recent economic and political situations in the U.S., particularly the government shutdown and Federal Reserve policies, will continue to influence market sentiment and investor decisions.

Technical Analysis: Bitcoin and Ethereum Consolidate, Short-term Rebound Requires Attention to Key Support and Resistance

From a technical perspective, both Bitcoin and Ethereum have shown signs of rebound and recovery, but the overall trend remains volatile.

Bitcoin Technical Analysis:

• Support Level: After experiencing a sharp decline, Bitcoin's price has shown signs of rebound and recovery, with the 76000-75000 area serving as a short-term support zone. If Bitcoin can maintain above this area, the market may see a rebound, further testing the key resistance levels of 80000 and 82000.

• Resistance Level: The 80000 area is a short-term resistance zone for Bitcoin. If the price can break through this level, it may lead to further rebounds, potentially challenging the higher 82000 area.

• Technical Indicators: On the daily chart, the RSI indicator has entered the oversold zone and is showing a turn, indicating that the downward momentum in the market may be weakening. The MACD on the four-hour chart is beginning to expand, suggesting that Bitcoin's price may experience a rebound in the short term. However, on the hourly chart, the RSI is approaching the overbought zone, and corrections may occur during the rebound, so caution is advised regarding the strength of the short-term rebound.

Ethereum Technical Analysis:

• Support Level: Ethereum's current short-term support is concentrated in the 2250-2200 area, which is a zone of consolidation during its decline. If this support holds, it may facilitate a rebound, but if it fails, the price could further retreat to the 2000 area.

• Resistance Level: The short-term resistance above is in the 2400-2500 area. Breaking through this zone could provide Ethereum with greater rebound potential, pushing the price towards the 2700 area.

• Technical Indicators: Similar to Bitcoin, Ethereum's RSI has entered the oversold zone, and the MACD on the four-hour chart is beginning to expand, indicating a demand for a short-term rebound. However, the rebound potential may be limited by resistance near 2400, so close attention should be paid to the strength of the rebound.

Market Outlook: Short-term Volatility, Focus on Key Range Breakthroughs

Currently, the short-term movements of Bitcoin and Ethereum are primarily influenced by macroeconomic factors and fluctuations in market sentiment. Although both show signs of rebound and recovery, market sentiment remains low, and they are still in a weak volatile range. Caution is advised, with attention to breakthroughs in key support and resistance levels, and flexible adjustments to trading strategies for effective risk control. As macro factors such as Federal Reserve policies and the government shutdown evolve, there remains significant uncertainty in market trends.

This article is exclusively contributed by Jian Crypto (follow the official account: Jian Crypto) and represents personal views. Due to the timing of the article's release, the above views or suggestions may not be timely and are for reference only. For more real-time guidance, please contact me!

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