The early market showed little volatility, and the rebound failed to deliver new breakthroughs. The overnight rebound remains at the top of the consolidation range, with the trend still leaning toward a weak bearish pattern. Strategy-wise, we should continue to maintain a bearish outlook.

From the hourly chart perspective, we are currently in a consolidation phase following a bounce from the bottom. As the Bollinger Bands continue to move downward, the price is trapped in a consolidation range after touching bottom and rebounding. However, a rebound does not necessarily mean a reversal; it is merely a correction after exploring the bottom. There is clear resistance at higher levels, and further downside remains. On the indicators, KDJ shows signs of high-level dullness with a potential death cross, while the 70000 level currently shows no resistance. Continue to monitor the 69000 support level at the bottom; if broken, watch for continuation toward the 68000 area.

BTC can go short near 70500, targeting around 69000. ETH can go short near 2150, targeting around 2100. $BTC $ETH