Bitcoin is generally exhibiting a pattern of volatile downward movement. Since early this morning, it has started a pullback from a peak around 60,735. During the volatile decline, it has repeatedly broken through short-term support, and the lowest point touched the 58,225 low region. The current price is weakly consolidating around the 58,573 area. Ethereum’s price action is highly correlated with Bitcoin—moving in sync as it also falls from a peak around 1,620, dipping into the 1,556 low region. Throughout, it shows a weak following-down trend, and with the bearish side dominating, the intraday correlation is further strengthened.

At the daily level, the declining channel remains in effective operation. After the market experiences a short-term weak rebound, completes a trap-and-distribution (inducement and dumping) phase, it has already clearly switched to a steady rhythm of gradual volatile decline. Bearish momentum continues to be released, driving the moving average system to form a synchronized bearish alignment. Short-term moving averages such as MA50 and EMA50 are all trending downward, and the price continues to trade below the moving average system. This structure indicates that the market trend is completely dominated by bears, and the downtrend has strong persistence and structural stability. On the four-hour timeframe, the weak bearish fall tone continues. The price has consistently come under pressure from the lower rail of the channel as it keeps sliding lower, displaying a unilateral weak downward technical characteristic, further solidifying the foundation of the daily-level bearish trend. The RSI indicator continues to decline to 42.67. After the MACD indicator forms a death cross, the histogram bars continue to expand, and there are no signs of bearish momentum weakening. A bearish divergence (top-back divergence) appears in sync across multiple timeframes, strongly signaling sell-off (bearish) from a technical perspective.

Based on the current market rhythm, bearish strength is still continuously dominating. The short-term rebounds occurring during this period are not signals of a trend reversal, but typical trap-and-dump actions. The core purpose is to build up energy for further downside. This morning’s trading plan still focuses on placing short orders on rebounds.

**Specific operation suggestions:** Watch the resistance zones of the 59,000-59,500 range and the 60,300-60,800 range. If the price tests the resistance and holds without breaking above, you may attempt shorting. Target a downside move of 500-6,000 points. If it holds steady and stays above 60,300, it is considered that a short-term rebound trend has formed; you can then look toward the 62,700-63,500 resistance zone.