Today’s overall analysis summary: Short-term bullish momentum is waning, the trend is weakening, and the intraday strategy is mainly to short on rebounds.

Bitcoin rapidly retreated from the high of 71,748 early this morning, breaking below the key support of 71,000 and continuing to weaken, with a low of 69,404. The rebound during the session was weak, and the market’s focus continued to shift downward; Ethereum also weakened in tandem, falling from the high of 2,085 to around 2,017, following the decline strongly, with market correlation turning bearish.

On the daily chart, the upper boundary of the upward channel was broken under pressure, previous support levels turned into resistance, and the bullish momentum exhausted. The moving average system turned downward, and the bullish resonance structure disintegrated, shifting the trend from bullish to bearish. On the four-hour chart, a one-sided downtrend formed, with prices under continuous pressure at the midline, MACD bearish bars expanding, confirming short-term bearish dominance.

Current market rhythm indicates that bullish strength is rapidly retreating. Early rebounds are weak corrections, not signs of strong upward attack, but rather trap-clearing moves to induce buying and shake out weak hands. The core logic is profit-taking at high levels leading to a trend reversal. This morning’s trading strategy shifted to shorting on rebounds, following the bearish trend.

Specific trading suggestions: Pay attention to resistance in the 71,300-71,800 and 72,800-73,500 zones. If resistance holds without breaking, consider shorting at high levels, targeting a downward move of 500-6,000 points. Surpassing and stabilizing above 73,500 is seen as the start of the next upward wave.