On the daily timeframe, BTC has formed a structure of continuous decline, with consecutive bearish closes. The price is firmly below the middle Bollinger Band, and there is very little room to the lower Bollinger Band support.

Currently, bearish momentum continues to increase in volume, with concentrated selling pressure being released. The price is declining smoothly without significant resistance; all previous upward attempts have been suppressed and reversed, directly breaking the bullish structure of this round, and the bullish advantage has completely collapsed.
Switching to the 4-hour timeframe, a standard downward channel has formed, with a clear bearish dominance pattern.
Although there are occasional small oversold bounces for repair, they are merely brief pauses during the downtrend and cannot reverse the overall downward trend.
The macro environment is also overwhelmingly bearish, with renewed expectations of Fed rate hikes, a strengthening US dollar index, coupled with continuous outflows from crypto spot ETFs. Market liquidity continues to shrink, and selling pressure on risk assets continues to intensify.
The trading strategy is clear and straightforward: all bounces and rallies are opportunities to enter short positions in line with the trend.
BTC: Short near 62100-62600 on a bounce, targeting 60800-60000; if it breaks, continue to target 59000.
ETH: Short near 1720-1750 on a bounce, targeting 1630-1570$BTC $ETH #USD1链上质押享年化8.26%