Last week, Bitcoin saw a strong surge, rallying nearly 10,000 points in a single move before hitting resistance at the 80,000 mark and pulling back. The price is now consolidating around 77,000, with the overall structure still showing strong bullish momentum. However, this rally was primarily driven by data and news catalysts, and after such rapid gains in a short period, traders should watch for technical corrections rather than blindly chasing higher. Going forward, the key focus will be on how the price consolidates after the major high. If a second push higher loses steam, we could see a return to bearish sentiment typical of the late-stage downtrend.

Chart Analysis:

On the daily timeframe, the price has pushed higher, breaking above the previous high before transitioning into sideways consolidation. The current price is trading near the upper Bollinger Band, facing resistance. Bitcoin has failed to decisively hold above the critical 80,000 level, with major players clearly taking profits at this key position. Following the weekend consolidation, the short-term support at 75,000 and the resistance zone at the recent rebound high have been largely confirmed. On the indicators, KDJ has entered the overbought zone and is beginning to turn downward, signaling a potential bearish crossover ahead. This rally, fueled by favorable data, is likely to be digested through sideways consolidation on the daily chart, building momentum for the next directional move.

Short-Term Strategy:

For trading, it's best to adopt a short-selling approach on rallies. For Bitcoin, consider shorting in the 77,500-78,000 range, targeting 75,000. If support at 75,000 breaks, further downside could open up. For Ethereum, similarly short on rebounds in the 2,450-2,480 range, targeting 2,350.