Bitcoin overall shows a weak correction pattern today, starting from a phased high near 94,420 yesterday and moving downward. During the oscillation and decline, it broke below the key support level of 92,000, with the lowest dip reaching around 90,150. Ethereum's movement remains highly correlated with Bitcoin, simultaneously retreating from previous highs, rebounding slightly after testing support near 3,124, and showing a consistent downward trend, with market correlation continuing to be prominent.

The daily chart's previous upward channel has been broken. After a rapid rise in early January, the market has entered a technical correction phase. Yesterday, a large bearish candle closed below the 30-day moving average, indicating short-term bullish momentum weakening and a temporary trend shift toward bearish dominance. The four-hour chart continues to show a weak downward trend, with the price breaking below the key support near 92,155. The MACD has formed a death cross and remains below the zero line, with bearish momentum gradually releasing, further reinforcing the short-term correction trend. Currently, the market rhythm indicates that selling pressure has reached its strongest since December 23, dominated by sellers. The short-term rebounds are not signs of trend reversal but typical profit-taking corrections after weak retracements, mainly to create space for further downside.

Specific trading suggestions: The overall bearish trend is currently strong. Focus on shorting during rebounds, with support levels as secondary considerations. Watch the key zones at 92,500-93,300 and 91,800-91,000. If prices rebound to these levels, consider attempting short positions with a target of 500-6,000 points lower depending on breakout conditions. For long positions, monitor support at 89,800-89,000 and 88,300-87,500. If support holds, consider aiming for higher targets at 91,000, 91,800, 92,500, 93,300, 93,800, and 94,500.