Bitcoin overall shows a volatile downward trend, starting to decline from the high point around 63,850 early this morning, gradually breaking below short-term support during the oscillation, with the lowest dip reaching the 60,780 area. Ethereum's movement is highly correlated with Bitcoin, starting its decline from the high of 3,120, dropping to the low of 3,050, showing a consistent weak follow-through, with market linkage highlighting the correlation.

On the daily chart, the downward channel continues to expand in an orderly manner. After experiencing a short-term weak rebound and completing bearish buildup, the market has successfully shifted to a steady oscillating decline. Bearish momentum is gradually released, driving the moving average system into a synchronized resonant downward pattern, with multiple EMAs (5, 10, 30) arranged in a bearish configuration. This pattern indicates that the market trend has clearly reverted to a bearish dominance, and this downward trend has strong persistence and structural stability. The daily MACD remains in a death cross, with DIF well below DEA, and the green bars expanding downward momentum remains intact; Bollinger Bands are opening downward, with prices running close to the lower band above 57,987. There are no signs of a bottom reversal on the daily level; rebounds are merely considered a continuation of the decline for correction.

The four-hour chart continues its weak downward trend, with prices consistently falling along the lower boundary of the channel, showing technical features of unilateral weakness, further solidifying the daily bearish trend. After a slight short-term rebound, the four-hour candlestick again faces resistance and declines, with Fibonacci support from the high of 82,828 to the low of 59,080. The 0% level at 59,080 is the current bottom support, while the 0.236 level at 63,200 becomes the key resistance. The current market rhythm indicates that bearish force is still being released; short-term rebounds are not trend reversals but typical trap-and-shake-out moves, mainly aimed at accumulating selling pressure for further declines. Today's early operations should focus on rebounding and setting up short positions.

Specific trading suggestions: Pay attention to the resistance at the 82,800-83,500 zone and the two levels at 64,800 and 65,800. If resistance holds, consider trying high shorts with a target of 500-6,000 points lower. Holding above 65,800 in the short term is seen as a trend reversal signal.