Whether you are researching a protocol, understanding an ecosystem, or simply sticking to dollar-cost averaging—where you focus your attention is where your value lies. Early this morning, the market again showed a series of large bearish candles, and the previously mentioned 72889 level for Bitcoin has already been broken. The 70,000 support level also seems to be in jeopardy. On Tuesday, the market successfully broke through resistance, indicating that this recent market trend could be a significant move.

Currently, the market remains in a weak state and continues to deepen, with a clear lack of rebound strength. The four-hour chart shows that the price repeatedly encounters resistance near the middle band of the Bollinger Bands and then falls back. The rebounds are merely technical corrections, with the overall trend continuing downward. The three Bollinger Bands are converging downward, indicating a narrowing of the volatility range and ongoing accumulation of bearish pressure. The downward trend has not changed. The one-hour chart further confirms that the bearish structure is solid: after a brief rebound, the price quickly falls below the middle Bollinger Band, which continues to move downward, forming a consistent and clear resistance to rebounds. The KDJ indicator, after a brief correction, forms another death cross, showing that rebound momentum is clearly insufficient. The MACD lines, after converging below the zero line, diverge downward again, forming a new death cross, indicating that bearish momentum is intensifying.

Overall, the market remains in a downward channel, with rebound strength gradually diminishing and the structural center of gravity continuously shifting lower. Morning trading is still recommended to maintain a primarily short position strategy. Rebound to key resistance areas can be used to set up short positions, with strict risk control. There are no effective signs of a bottom yet, so premature bottom-fishing is not advisable. The overall approach should focus on trend-following and defense, patiently waiting for further downward momentum to be released.

Trading Suggestions:

Short near 76,500 for Bitcoin, target 73,000
Short near 2,280 for Ethereum, target 2,000