Bitcoin weakened this morning, continuing yesterday's downtrend. After opening, it rebounded slightly to around 70800 but faced selling pressure and declined throughout the day, hitting a low near 70300. Currently, there's a slight technical bounce, but the momentum is limited, with the price remaining in a narrow range around 70500. Ethereum's movement is consistent with Bitcoin, once recovering to around 2170 before facing selling pressure and declining. Short-term resistance emerged near 2145.

Overall market outlook remains bearish short-term.

From the daily timeframe perspective, Bitcoin formed a doji yesterday. If today closes as another bearish candle, it will form a "evening star" bearish reversal pattern. The daily K-line remains below the moving average system with short-term indicators turning down, creating downward pressure. The daily adjustment pattern hasn't changed. The previous downtrend has broken the bullish structure, and the current bounce is more of a technical rebound after oversold conditions rather than a trend reversal. From the 4-hour chart structure, this bounce can 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 bounce once broke above 71000, it failed to hold and has been pushed back down. The 71000-72000 zone above is a strong resistance area formed after support breakdown and also suppressed by the descending trendline. Looking at the rebound pattern, the price faced clear selling pressure when touching the key resistance zone, failing to break above the previous high for two consecutive days, indicating heavy selling pressure and exhausted bullish momentum. Maintain a bearish outlook.

Bitcoin: Short at 70800-71300, target 69000 nearby. Ethereum: Short at 2160-2180, target 2100 nearby. #加密市场回涨 $BTC $ETH