Is this bounce rally over? This move looks scary, but bulls need to stay calm and not get thrown off by short-term volatility.

We just sold off from around 74000 and broke through the key support at 72839, pulling back to around 70273. Many people are panicking and shouting "the rally is finished," but it's not that pessimistic — breaking 72839 only weakened the strong uptrend from 74000. As long as 70273, the starting point of the surge, doesn't break, the hourly-level bull trend is still intact, just temporarily in a weak consolidation zone.

We've already completed the first test of 70273, and we'll likely get another retest next. If the second retest's low is higher than the first, we can form a double bottom and push higher; if the second test dips lower, we might have to swing around the old consolidation zone near 67000.

$BTC For operations, wait for the second retest at 70273 to go long, with stop loss below 69000 — if it breaks, take the loss. For a short-term bounce, we must first hold steady at 71314. If it can't hold, we'll just grind between 71314 and 70273; if it holds, then watch 72839, the old support that's now resistance — a breakthrough is needed to push higher.

Now for Ethereum — the move mirrors Bitcoin, also bouncing around in the box and broke below the mid-line at 2222. This level is now a hurdle; a breakthrough above means a decent bounce; if it fails and breaks through the 2150 low, we'll have to probe the box's lower boundary at 2088.

$ETH Short-term resistance levels to watch: 2206, 2253, 2302; support levels: 2166, 2127, 2085. If the 4-hour breaks 2152, watch 2105, 2066; if it holds 2222 steady, then probe resistance levels higher.

Bitcoin, don't rush to go short — 70273 is the bull lifeline, and if the second retest doesn't break it, that's the opportunity. Ethereum watch those two hurdles at 2222 and 2150; a breakthrough or breakdown is the directional signal. Right now it's a grueling consolidation period — wait patiently for signals before moving, don't chase rallies or panic sell.