Bitcoin showed continued weakness from yesterday this morning. After opening, it bounced slightly to around 70800 but faced selling pressure and declined. Subsequently, it trended lower throughout the day, touching lows near the 70300 level. Although there has been some minor rebound currently, the strength is limited, and it remains oscillating narrowly around 70500. Ethereum's price action is consistent with Bitcoin, once recovering to around 2170 before facing selling pressure and pulling back, with short-term pullbacks encountering resistance near 2145. The overall market outlook remains bearish in the near term.

From a daily chart perspective, Bitcoin closed as a doji yesterday. If it continues to close bearish today, it would form a "evening star" bearish pattern. The daily K-line remains below the moving average system with short-term shifts pointing downward, creating resistance. The daily adjustment pattern remains unchanged. The previous decline has already disrupted the bullish structure, and current rebounds are more of a technical correction following oversold conditions rather than a trend reversal. From the four-hour chart structure, this rebound can still only be defined as a technical correction within a downtrend. After declining from the 75998 high, the chart has formed a clear descending channel with lower highs and lower lows. Although the recent rebound briefly broke above 71000, it failed to hold and has been pushed back down. The 71000-72000 zone above represents a strong resistance area formed after previous support breakdown, and also serves as resistance from the descending trendline. From the rebound pattern, prices clearly faced selling pressure upon touching the key resistance zone. Two consecutive days of failure to break the previous high indicates heavy selling pressure above, with bullish momentum exhausted. The strategy is to maintain a bearish bias.

Bitcoin: Short from 70800-71300, targeting around 69000. Ethereum: Short from 2160-2180, targeting around 2100. #加密市场回涨 $BTC $ETH