Bitcoin overall shows a oscillating downward trend today. After a slight rebound from the 89,866 level in the early morning, it failed to continue upward momentum. The bulls' strength quickly diminishes, and the price faces downward pressure, repeatedly testing short-term support levels. The rebound highs are gradually decreasing, indicating a clear overall weakening trend. Ethereum remains highly correlated with Bitcoin, rising from a low of 3,096 to a high of 3,160 before quickly falling back. The upward momentum is weak, and the downward acceleration increases, with market correlation shifting towards a bearish dominance.

On the daily chart, the upward channel has been effectively broken. The previous weak pullback was not a consolidation for building a bottom but a precursor to trend reversal. The moving averages have also turned downward, forming a bearish suppression pattern, signaling a formal shift from bullish to bearish dominance. The short-term downward trend has strong continuation potential. The four-hour chart trend has completely reversed from a strong stance; the price broke below the lower channel support, highlighting a clear bearish trend and further solidifying the foundation for the daily bearish trend.

Currently, the market rhythm indicates that bearish forces continue to be released. The rebounds are weak corrections rather than trend reversal signals, mainly to digest previous bullish positions and open up more downside space. Today's trading strategy is adjusted to short on rebounds, relying on key resistance levels to go short, with strict risk control.

Specific trading suggestions: Pay attention to resistance at the 71,500-72,300 and 74,300-75,000 zones. If these resistances hold, consider going short from higher levels, targeting a downward move of 500-6,000 points. Surpassing 74,500 is regarded as a trend reversal.