Looking back at the early morning market, the overall trend remains weak with a volatile sideways structure that is gradually declining. Bitcoin's midnight rebound peaked around 71,500 before facing resistance and falling back. The overall pattern shows a decline and probing lower, currently holding steady around 70,600 with sideways consolidation. Ethereum, following Bitcoin's lead, repeatedly tested key support levels, faced resistance on rebounds, and fell back from around 2,220. It is now fluctuating near 2,190. The high rebound levels of Bitcoin and Ethereum also align with the resistance levels we highlighted in the early morning.

From the current market perspective, the daily chart shows a large bearish candle that has wiped out the previous three days' gains. Although the overall trend remains upward, attempts to test the downward trendline at the highs have been met with resistance and a decline. This indicates a major wave of profit-taking, and the volume increase in the future is likely to present a weak, downward correction phase. Looking at the four-hour chart, the overall market retraced near the lower band and faced resistance. The lower band coincides with the 38.2% Fibonacci retracement level, which suggests we are watching whether the market can break downward in a phase. In the context of a weak overall trend, the market has broken below the four-hour upward trendline, and indicators are turning downward. The current retracement has not yet shown oversold signals, so we await a volume-driven decline in the near future.

Bitcoin can be shorted between 71,000 and 71,500, with attention to 70,450 and 69,300. Ethereum can be shorted between 2,200 and 2,220, with targets at 2,180 and 2,130. #加密市场回升 $BTC $ETH