Bitcoin is exhibiting an overall pattern of oscillating pressure and downward movement. It began a pullback from the high of 71,980 early this morning, gradually breaking through short-term support levels during the decline, with the lowest dip reaching around 70,650. Ethereum's trend remains highly correlated with Bitcoin, simultaneously starting a decline from its high of 2,192, dropping to around 2,136, showing a consistent weak follow-through with the market, highlighting their strong linkage.

On the daily chart, the downward channel continues to expand in an orderly fashion. After a short-term weak rebound and completing a false top formation, the market has shifted to a rhythm of oscillating pressure and downward movement. The bearish momentum is gradually releasing, causing the moving averages to resonate and form a suppression pattern. This indicates that the overall trend has clearly reverted to a bearish dominance, and this downward trend is characterized by strong persistence and structural stability. The four-hour chart continues to show a weak decline, with prices consistently supported at the lower boundary of the channel, displaying technical features of a one-sided weak decline, further reinforcing the foundation for the daily bearish trend. Currently, the market rhythm suggests that the bearish force remains active, and short-term rebounds are not signs of trend reversal but typical bull traps designed to lure in longs, mainly to accumulate energy for further downside. Today's early trading strategy remains focused on rebounding to establish short positions.

Specific trading suggestions: Watch the resistance levels between 71,800-71,200 and 73,800-74,500. If these levels hold, consider attempting short positions from higher levels, targeting a downside of 500-6,000 points. Maintaining above 75,000 is regarded as a short-term trend reversal signal.