Bitcoin is currently showing a pattern of oscillatory correction. Since the low point of around 68,531 early this morning, it has experienced a weak rebound. During the rebound, it has been constrained by the key resistance level at 71,000, only reaching a high of approximately 71,554 before quickly falling back. The rebound lacks sustainability. Ethereum's movement remains highly correlated with Bitcoin, starting its recovery from a low point. After rising above $2,000, it encountered resistance and pulled back, showing a passive follow-up trend throughout, with strong market correlation but weak upward momentum.

On the daily chart, the downward channel continues to extend. After experiencing sharp selling pressure and touching short-term support, the market has entered a weak oscillatory correction phase. However, this does not change the overall medium-term bearish trend. Although bearish momentum has shown some convergence, the moving average system remains in a bearish alignment. This structure indicates that the trend is still firmly controlled by the bears, and the downward trend has strong continuity and structural stability. The four-hour chart continues to show a weak rebound pattern, with prices consistently below the downward moving averages, exhibiting a "gradual rise with quick resistance" technical characteristic, further confirming the dominance of the daily bearish trend. Currently, the market rhythm indicates that bearish forces are still accumulating. Short-term rebounds are not signs of trend reversal but typical technical correction actions, mainly aimed at building momentum for further declines. Today's early operations should focus on rebounding and establishing short positions.

Specific trading suggestions: Pay attention to resistance levels at 72,300-71,500 and 72,800-73,500. If these levels hold without breaking, consider shorting at high points, with a target downward space of 500-6,500 points. A break above 74,800 is considered a trend reversal signal.