Yesterday, Bitcoin showed strong signs of continuing to drop during the first 30-minute wave downward—the market was just waiting for the validation from non-farm payroll and unemployment data. If the data weakens, it could directly break through previous lows, creating an excellent low-entry opportunity. However, when the data was released, it was actually more favorable, and BTC dropped again but stopped at the support level. From this perspective, points 1 and 2 earlier might form the second-layer buy points; the ideal 30-minute buy at point 1 has already been missed.

Following that, there was a rapid rally, which often triggers FOMO. The current issue is that liquidity is indeed weak, and the market needs news-driven stimuli to boost confidence; otherwise, it will just oscillate in a bottoming phase.

From a larger cycle perspective, Ethereum has already formed a standard consolidation-down pattern on the 4-hour chart, with clear 1-2-3 sell points. Is this really the major bottom? From a Chan theory perspective, it’s possible. But right now, I dare not make a heavy move—holding spot assets fears being deeply trapped without bullets to add positions, and not holding makes it seem like it might just take off directly. This price range is awkward, and that’s the dilemma.

What do you all think about this? Is this really the bottom area or just more grinding? Experts, please share your thoughts.