Bitcoin is overall exhibiting a volatile and somewhat bearish pattern, characterized by a rebound followed by a retreat. Starting from the high of 75,937 early this morning, it began to pull back. During this decline, it repeatedly broke through short-term support levels, with the lowest dip reaching the 73,530 support zone. Ethereum's movement remains highly correlated with Bitcoin, simultaneously starting a retracement from the 2,360 high, testing the 2,300 support level, and showing a consistent weak follow-through decline, highlighting the market linkage.

On the daily chart, the upward channel shows a turning point with narrowing range and decreasing volume. After the previous sharp rally that trapped bulls and completed long profit-taking, the market has shifted to a oscillating downward trend aimed at correcting overbought conditions. Bearish momentum is gradually releasing, causing the moving averages to form a death cross resonance, reinforcing the downward trend. This pattern indicates that the short-term trend has clearly reverted to bearish dominance, and this downward structure has phase continuity. The four-hour chart continues the weak correction tone, with prices pressured at the midline of the channel, steadily declining, displaying technical features of weak rallies and stepwise declines, further confirming the foundation for daily bearish correction. The current market rhythm shows that bearish forces are still being released in an orderly manner. Short-term rebounds are not trend reversal signals but typical resistance tests and shakeouts designed to accumulate energy for further declines. Today's early operations should focus on rally-based short positions.

Specific trading suggestions: Watch the resistance at the 75,000–75,800 and 77,000–77,700 ranges. If these levels hold without breaking, consider shorting on high positions based on market conditions. Look for downside targets at 74,800, 74,000, 73,500, 72,800, and 71,700. At these short-term key levels, consider long positions if support holds. A break below 71,700 signals a complete trend reversal. Keep an eye on the strong resistance at 79,300; a pin action there is likely to cause a technical pullback. Breaking through and holding above this level would signal an attempt to test above the 80,000 mark.