The weekly chart closed with a long lower shadow followed by a large bearish candle, then quickly recovered. This is a mid-way consolidation and strength-building phase during an uptrend. After a brief sell-off to shake out and clear the remaining weak orders (“floating bids”), the buy-side absorption then took over to push the price higher. The medium- to long-term upward trend remains intact.

The daily signals are even clearer: after the price retraced to key support, a large bullish candle reclaimed the losses, forming a bullish engulfing pattern. Consecutive green candles continue to lift the price, with strong long-side momentum and no overbought/top-reversal signals at present.

The prior drop was only a short-term pullback. Support below is solid, and the downside room is limited. After a period of consolidation and turnover to build a base, the foundation for future upward movement is more solid. As the market rises while “washing” it is only to clear resistance for the next leg up; the overall structure has not been broken. Any pullback is an opportunity to enter at a lower price.

btc retracement around 63800-63200, then long; upside target 64600-66200

eth retracement around 1790-1760, then long; upside target 1830-1900