Bitcoin overall shows a volatile downward pattern. After failing under the 64,997 area high this morning, it pulled back. During the choppy downward move, it gradually broke below short-term support, dipping to the 63,412 low area. Ethereum’s price action remains highly correlated with Bitcoin: it started its decline from the 1,920 high as well, falling to the 1,875 low, throughout displaying a weak, following-trend selloff. Market correlation is prominent, and bearish sentiment is spreading.

 
At the daily timeframe, the downtrend channel continues to extend in an orderly manner. After the market experienced insufficient short-term rebound and completed a stage top formation, it has successfully switched to a volatile downward operating rhythm. Bearish momentum is gradually releasing, driving the moving-average system into a synchronized bearish alignment; the 5/10-day moving averages form a dead cross and exert suppression. This pattern indicates that the trend has clearly shifted to bearish dominance, and that this downtrend has strong persistence and structural stability. On the four-hour timeframe, the weak decline tone continues. Price remains under continuous downward pressure below the channel lower boundary, showing typical technical characteristics of one-way weak downside, further reinforcing the daily timeframe bearish trend foundation. Current market rhythm shows that bearish strength is still increasing. The short-term rebounds seen in the process are not signals of trend reversal, but rather typical weak correction moves. Technically, bearish signals keep strengthening: the daily TRIX trend indicator remains in a dead-cross state, price keeps pressing below moving averages across multiple timeframes, and the intermediate downtrend remains unchanged. On the four-hour timeframe, the MACD fast and slow lines form a dead cross extending downward below the 0 axis; green histogram bars keep growing in magnitude. The RSI is oscillating and declining in the neutral-to-weak area around 40, indicating severely insufficient rebound momentum. Price is moving within the descending channel; rebound peaks gradually move lower, forming a typical descending triangle consolidation pattern. Overhead sell pressure is heavier in the 63,800–64,000 area, and rebound upside is tightly limited. The 63,000 whole-number level is an important psychological support; if it breaks, downside space will open further. The core goal is to accumulate energy for further dips; today’s trade plan focuses on laying out short positions on rebounds.
 
Specific operation suggestions: watch how price handles the 63,800 area, as well as the 64,800–65,300 range. If it meets resistance and does not break, you can attempt shorting on the high. Targets to watch are 62,700 and 61,800. If 61,800 is decisively broken, then continue looking down toward the 60,000 level. Focus on resistance/pressure at key levels—if not broken, you can try short-term lowing dips.
$BTC