The Bitcoin chart shows a "sharp rise followed by a pullback and sideways movement" in the early morning. During the midnight hours, the price faced resistance after reaching a high of 70332 and began to decline, consecutively forming bearish candles, gradually breaking through the 70000, 69500, and 69000 levels. The lowest point touched around 68700, then slightly rebounded to around 68730 for consolidation. Overall, it presents a one-sided downward trend, with highs gradually moving lower and lows continuously making new lows. The rebound strength during the session was weak, and buyers lacked sufficient support. Ethereum also declined in tandem with Bitcoin, briefly recovering to around 2160 in the early morning before facing resistance. The market retraced to the current low of about 2090 and is now consolidating around 2100. Early morning, short positions were established, capturing 1300 points profit on Bitcoin, and over 60 points on Ethereum.

The daily chart shows a long upper shadow. Currently, the price is consolidating near the midline after falling. Whether it can break below the midline to further turn into a bearish trend remains to be seen. The market has recovered to the previous upward channel or is in a weak consolidation, without further volume expansion. The 70000 resistance level remains strong. If the market cannot break higher, the continuation of the bullish trend will likely stay in a shrinking volume phase. Looking at the four-hour chart, after a high consolidation with consecutive bullish candles, overbought indicators are undergoing a phase adjustment. The price has again fallen back to the 120-day moving average for consolidation. In the short term, support is below the midline, and indicators still show signs of further adjustment. The market can still be considered for short-term high-position trading.

Bitcoin can be shorted in the 69000-69500 range, targeting around 67500. Ethereum can be shorted in the 2110-2130 range, targeting around 2080-2050. #加密市场行情震荡 $BTC $ETH