Bitcoin is showing a overall oscillating downward trend, starting to decline from the high point around 69,999 early this morning. During the fluctuation process, it gradually broke through short-term support levels, with the lowest dip reaching the 66,408 area. Ethereum's movement is highly correlated with Bitcoin, starting its downward trend from the high of 2,100 and falling to the low near 2,000. Throughout the process, it exhibits a weak follow-through pattern, highlighting the market's linkage.

On the daily chart, the upward channel continues to face resistance and contract. After experiencing a short-term surge followed by a pullback and the exhaustion of bullish momentum, the market has successfully shifted to a steady oscillating downward rhythm. Bearish momentum is gradually released, causing the moving average system to form a synchronized resonance suppression pattern. This indicates that the market trend has clearly reverted to a bearish dominance, and this downward trend is relatively persistent with a solid structure. The four-hour chart continues to show a weak decline, with prices steadily moving lower along the channel's lower boundary, displaying technical features of a one-sided weak decline, further reinforcing the foundation for the daily bearish trend. Currently, the market rhythm indicates that bearish forces are still accumulating. Short-term rebounds are not signs of trend reversal but typical of power accumulation and selling pressure, aiming to gather strength for further declines. This morning's trading strategy centers on rebounding to lay out short positions.

Specific trading suggestions: Currently, focus on the resistance levels in the 69,500-68,800 and 70,500-71,000 ranges. If these levels hold without breaking, consider shorting from higher levels, targeting a downward move of 500-5,500 points.