Bitcoin overall shows a oscillating downward trend, starting to decline from the high point of around 69,000 early this morning. During the fluctuation process, it gradually broke through short-term support levels, with the lowest dip reaching the 67,400 area. Ethereum's movement is highly correlated with Bitcoin, simultaneously starting a downward trend from its 2013 high point, dropping to the 1962 low point, displaying a consistent weak follow-through pattern, with market correlation becoming prominent.

On the daily chart, the downward channel continues to expand in an orderly manner. After experiencing a short-term weak rebound and completing a sufficient trap to form a top, the market has successfully shifted to a steady oscillating downward rhythm. Bearish momentum is gradually released, driving the moving average system into a synchronized resonant decline, indicating that the market trend has clearly reverted to a bearish dominance, and this downward trend is both persistent and structurally stable. The four-hour chart continues to show a weak decline pattern, with prices steadily probing the lower channel boundary, exhibiting technical features of a one-sided weak decline, further solidifying the foundation for the daily trend. Currently, the market rhythm indicates that bearish forces are still accumulating. Short-term rebounds are not trend reversal signals but typical prelude to further decline, serving as a buildup for subsequent downward movement. Today's early operations should focus on rebound-based short positions.

Specific trading suggestions: Pay attention to resistance in the 69,300-70,000 and 70,800-71,500 zones. If there are pinpoints or resistance signals, consider attempting short positions at high levels, targeting a 5,000-6,000 point decline. Surpassing 71,500 is regarded as a trend reversal signal.