Bitcoin is showing overall weak oscillation with a pattern of rallies followed by pullbacks. It rebounded slightly from the low of 68880 this morning, surged up to the 71280 short-term resistance area during intraday trading, but faced pressure and pullback. Bull momentum gradually weakened, prices retreated with oscillation, failing to break through key resistance levels, maintaining an overall weak consolidation pattern within the range. Ethereum's trend maintains high correlation with Bitcoin, similarly rebounding from the 2100 low, surging to around 2165 high before quickly retreating. The upside momentum remains consistently weak, with the linked weakness becoming more pronounced, and bulls continuously lack momentum support for counterattacks.

On the daily level, the uptrend channel shows clear signs of reversal, with the market failing to sustain strong counterattack momentum after a minor initial rebound and exhaustion of bull energy, instead falling into a pattern of consolidation at higher levels and price-volume divergence. Bear momentum is gradually accumulating. The daily MACD indicator has formed a bearish death cross and continues to diverge downward, the RSI indicator retreats from the neutral zone to the weak range, and the moving average system simultaneously reverses downward forming resistance. This formation indicates the market trend has switched from bull-dominated to bear-dominated oscillation, the short-term uptrend has been completely broken, and pullback risks continue to intensify. The 4-hour level continues the weak oscillation pattern, with prices consistently running weak along the lower Bollinger Band, multiple attempts to challenge the upper resistance have all failed, showing technical characteristics of rally-pullback and gradually declining focus. Further solidifying the daily-level bear pullback basis. Current market rhythm shows that bearish forces continue to release, with short-term rebounds appearing not as trend reversal signals but as typical bull trap washout actions, with the core purpose of depleting bull strength and accumulating power for further pullbacks. Early today's operations should still focus on shorting on rebounds as the core strategy.

Specific operational recommendations: Continue monitoring the resistance at 71200-71800 range and 73800-74500 range. If resistance holds without breaking, can attempt shorts from higher levels, targeting 500-6000 points of downside space. Standing firm above 75000 would be considered a trend reversal.
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