Bitcoin overall shows a oscillating downward trend, starting to decline from the high point of around 65,100 early this morning. During the fluctuation process, it gradually broke through short-term support levels, with the lowest dip reaching the 62,500 area. Ethereum's movement is highly correlated with Bitcoin, starting its downward trend from a high of 1915 and dropping to around 1860. Throughout the process, it exhibits a weak follow-through pattern, highlighting the market's linkage.

On the daily chart, the downward channel continues to expand in an orderly manner. After experiencing a short-term weak rebound and completing a full trap to induce buying and top out, the market has successfully shifted to a steady oscillating downward rhythm. Bearish momentum is gradually released, driving the moving average system into a synchronized resonant decline. This pattern indicates that the market trend has clearly reverted to a bearish dominance, and this downward trend is strong in persistence and structurally stable. The four-hour chart continues to show a weak decline, with prices consistently testing the lower boundary of the channel, demonstrating a one-sided weak downward technical characteristic, further solidifying the foundation for the daily bearish trend. Currently, the market rhythm indicates that bearish forces are still accumulating. Short-term rebounds are not trend reversals but typical consolidation moves to gather strength for further declines. Today's early operations should focus on rebounding and establishing short positions.

Specific trading suggestions: Pay attention to resistance levels at 65,800-66,500 and 67,300-67,800. If these levels hold without breaking, consider shorting from higher levels, with a target of 500-6,000 points lower. A break above 68,300 is considered a reversal signal.