$BTC Last night, Ethereum exhibited a standard bearish repair pattern. After a sharp drop, it rebounded slightly, then came under pressure again and weakened. The brief support during the decline triggered a round of rebound, but the rebound range just touched the short-term downtrend resistance level. The bulls were unable to hold their ground, and the price quickly turned back down. Throughout the rebound, buying power continued to weaken. It was merely a passive repair caused by bearish position closing, without any active bullish entry to push the price higher. The high of the rebound left a clear long upper shadow, fully indicating massive selling pressure above and concentrated bearish suppression. In the short term, all moving averages are aligned bearishly downward, and the medium- to long-term moving averages have also shifted from support to resistance, further confirming the intensity of the overhead suppression. If the price cannot break through the rebound resistance range, the current range-bound consolidation is merely a pause during the downtrend, not a bottom reversal. The operation strategy remains to take advantage of the rebound high to short.