Bitcoin's daily chart continues its weak trend, recording three consecutive down days, currently testing the middle band support again. The market initially rose then fell, quickly declining after the rebound, ultimately building momentum to break lower, touching recent lows, and briefly breaking below the middle band. The four-hour level similarly shows three consecutive down days, strongly breaking below the middle band, the previous rebound rhythm clearly disrupted, with pullbacks continuing to develop. Accompanying weak counter-rallies and continuously declining highs, bears gradually dominate the short-term trend, with late session adjustments deepening and downward momentum further strengthening. We have provided multiple reminders early this week, bullish on the formation and extension of mid-week bearish trends, and current price action gradually validates expectations. However, note that intraday reversals remain, with fast switching between long and short positions.

Bitcoin did not break below 69,000 overnight, we can focus on the first key resistance above at 70,000, which after breaking through could potentially continue rebounding to around 71,500; if unable to consistently break through 70,000, focus on the 68,200-67,000 support zone, where one can attempt long positions in this range.

Regarding Ethereum, nightly rebound pressure at 2,150, after breaking through focus on 2,220 above. If unable to stand above 2,150, be prepared for pullbacks, with support below in the 2,080-2,060 range, conservative traders can wait for opportunities near 2,020.

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