Morning Analysis

From the 4-hour cycle perspective, the price rebound tested the middle band of Bollinger Bands but faced pressure and quickly pulled back. The Bollinger Bands are opening downward, and the downtrend channel has officially opened. This round of rebound breakthrough has failed. Short-term moving averages have formed a death cross and continue to diverge downward, bearish arrangement structure is confirmed, and price remains pressured below the moving averages with significant suppressive effect.

After the MACD formed a death cross at high levels, bearish momentum gradually increased volume, the market continued its downtrend rhythm, and oscillating indicators such as RSI simultaneously entered weak zones. The bullish rebound momentum has been completely exhausted, and the current market is fully dominated by bears. Operationally, the core strategy is to short on rebounds, and avoid blindly chasing bottoms.

Operation Suggestions:
Bitcoin around 71600 - Short - Target around 70300
Ethereum around 2180 - Short - Target around 2120