Currently, the price has effectively broken below the recent upward channel's lower boundary and the short-term dense support zone at 83,000-83,500, indicating that the short-term upward structure has been disrupted and the market has shifted to a bearish dominance. The fast and slow moving averages have formed a death cross above the zero line and are accelerating downward, with the green momentum bars significantly enlarging, confirming a short-term downtrend. Ethereum's movement generally follows Bitcoin but with a deeper decline, having fully retraced recent gains and tested the lower boundary of the previous consolidation zone. The current market is in a correction phase after a sharp decline, but no signs of a substantial rebound have been observed.

The market is closely watching the key support level at 80,000 for Bitcoin. In the context of declining risk appetite, accelerated leverage liquidations, and tightening liquidity, short-term volatility in the crypto market is likely to further intensify. From a technical perspective, the daily chart of Bitcoin shows a continuous decline in price. Although there was a slight rebound after a large bearish candle, the overall trend remains downward. The hourly chart shows signs of successive lows being lifted but has not yet broken through the previous high resistance level. Regarding technical indicators, on the hourly MACD, both DIF and DEA are below the zero line, and the MACD histogram is gradually shortening, indicating that bearish momentum is weakening but still dominant; the hourly RSI is at 32.12, approaching the oversold zone, suggesting a potential technical rebound, though the daily RSI remains weak. Additionally, on the hourly chart, the EMA7, EMA30, and EMA120 are all in a bearish alignment, with the price clearly suppressed by the EMA7, and the medium to long-term trend remains bearish.

Trading suggestions:

Short around 83,500 for Bitcoin, target 80,000
Short around 2,800 for Ethereum, target 2,500
$BTC $ETH #贵金属行情下跌