On the daily timeframe, the price has broken through the key support level of 74,000. Currently, it is trading below the middle band of the Bollinger Bands and has formed a typical "dark cloud cover" pattern, which is a strong bearish signal. Simultaneously, the MACD indicator has turned into a death cross, clearly showing that bullish momentum is nearly exhausted, and the market trend may face further adjustment.

Shifting focus to the four-hour timeframe, after penetrating the important psychological level of 70,000, the price is showing weak oscillation near 69,000. Observing the moving average system, we can see that the moving averages are in bearish alignment, which further confirms that bearish forces have gained the upper hand in the market. Based on the above analysis, it is recommended to trade primarily on rebounds with short positions.

BTC: shorting around 70600-71300, target downside 69600-68000

ETH: shorting around 2170-2220, target downside 2120-2000