Bitcoin is showing a overall oscillating downward trend, starting to decline from the high point of around 70,850 early this morning. During the oscillation, it gradually broke through short-term support levels, with the lowest dip reaching the 69,200 area. Ethereum's movement is highly correlated with Bitcoin, starting its downward trend from the 2140 high point and dropping to the 2080 low point. Throughout the process, it exhibits a weak follow-through pattern, highlighting the market's linkage.

On the daily chart, the downward channel continues to expand in an orderly manner. After experiencing a short-term weak rebound and completing a full trap to induce buying and form a top, the market has successfully shifted to a steady oscillating downward rhythm. The bearish momentum is gradually released, driving the moving average system into a synchronized resonant decline. This pattern indicates that the market trend has clearly reverted to a bearish dominance, and this downward trend is strong in persistence and structurally stable. The four-hour chart continues to show a weak decline, with prices steadily probing the lower channel boundary, displaying technical features of a one-sided weak decline, further solidifying the foundation for the daily bearish trend. Currently, the market rhythm indicates that the bearish force is still accumulating. Short-term rebounds are not signs of trend reversal but typical of a power-building trap to lure in buyers, aiming to gather energy for further declines. Today's early operations should focus on rebounding to establish short positions.

Specific trading suggestions: Pay attention to the resistance levels at 71,300-71,800 and 72,500-73,300. If these levels hold without breaking, consider shorting from higher levels, targeting a decline of 500-6,500 points. A break above 74,500 is considered a reversal signal.