Bitcoin is currently in a predominantly downward trend, starting with a sharp decline from the high of 75,800 early this morning. During the volatile decline, it repeatedly broke through multiple support levels, with the lowest approaching below the 72,000 mark. Ethereum's movement remains highly correlated with Bitcoin, simultaneously initiating a sharp decline from the high of 2,250, breaking below the critical 2,100 level, with a daily drop of over 6%. The entire process shows a weak follow-through pattern, highlighting strong market linkage.

On the daily chart, the downward channel continues to accelerate in expansion. After a short-term weak rebound and a false breakout to trap buyers before a further decline, the market has fully shifted to a single-sided oscillation downward. Bearish momentum is concentrated, causing the moving averages to resonate in a synchronized downward pattern. The 5-day, 10-day, and 20-day moving averages have all turned downward, indicating a clear trend reversal dominated by bears, with this downtrend possessing strong continuation and structural breaking potential. The four-hour chart continues to show a weak decline, with prices consistently under pressure from the lower boundary of the channel. Bearish engulfing and descending three-method candlestick patterns appear successively, demonstrating strong technical characteristics of a one-sided decline, further reinforcing the foundation for the daily trend’s bearish operation. Currently, the market rhythm indicates that bearish forces are still being released. Short-term rebounds are not signs of trend reversal but typical trap corrections aimed at accumulating selling pressure for further declines. Today's early trading will mainly focus on shorting during rebounds.

Specific trading suggestions: Pay attention to the resistance levels at 72,500-73,300 and 74,800-75,300. If resistance holds, consider attempting short positions at high points, with a target space of 500-6,500 points downward.