Bitcoin pulled back from around 71,300 yesterday, hitting a low of 69,300, with Ethereum weakening in sync. We realized profits on our high short positions for both yesterday.

From a technical perspective, after the four-hour uptrend channel opened, price failed to hold above the upper rail. Oscillation and consolidation triggered a significant decline, with volume contracting and moving averages converging and turning downward. High-level pressure is evident, requiring consolidation and base-building after the push higher, with further downside testing space available. On the one-hour timeframe, the resistance couldn't hold firm, with bears pushing lower on volume through the lower rail. The rebound after the spike is merely technical recovery, with short-term correction demand strong. We can maintain our high short outlook unchanged going forward!

• Bitcoin: Short near 71,000-70,800 on bounces, targeting 68,300-65,800 below

• Ethereum: Short near 2,170-2,210 on bounces, targeting 2,100-2,050#Gate13周年全球庆典 $BTC $ETH