Based on the current overall technical structure, Bitcoin initiated a rally attempt in the early morning, testing higher levels. After briefly breaking above the 62,800 range, the upward momentum quickly exhausted and weakened, with resistance at higher levels becoming more apparent. The short-term signs of a top are very clear.

After encountering resistance, the market immediately shifted into a sideways downward channel, with prices gradually falling back to around 61,000. The characteristics of this correction are particularly obvious: the rebound highs keep moving lower, forming a pattern of increasing resistance. Small recoveries during this period were accompanied by heavy selling pressure, with bullish candles showing thin bodies and short duration, reflecting weak buying support at low levels and a low willingness for a strong rebound.

At this stage, the game between bulls and bears has become clear. The bears firmly control the market rhythm, and the short-term trend is likely to continue with pressure and oscillation. The rebounds are seen only as technical pauses, making sustained reversals or upward surges unlikely.

BTC rebounds around 62,200-62,800, with support at 61,600-60,200.

ETH rebounds around 1,650-1,690, with support at 1,610-1,540.