Midnight price came under pressure from the 71999 high, declining with oscillations all the way down, with lows touching 70531, subsequently supported and stabilizing with a rebound, closing near 71300 in late trading. Overall showing a V-shaped pattern with initial decline followed by gains, with oscillation amplitude near 1500 points. Ethereum synchronized with Bitcoin's movement, recovering to around 2180 near midnight with bulls contracting volume, the market once again falling into periodic adjustment. During early morning broadcast, I reminded everyone to position short entries, unsure how many managed to catch this small adjustment.

From the current chart structure perspective, at the four-hour level, the price previously rallied with consecutive positive candles, testing upper resistance, weakening with volume during U.S. hours, closing with an engulfing bearish candle, prior rebound gains essentially reversed, bullish momentum abruptly halted. Currently price oscillating repeatedly near 71500, with K-line forming long upper shadows, directly reflecting heavy selling pressure above and insufficient upside momentum. Although short-term consolidation remains possible, higher-level stalling combined with bearish engulfing has essentially established, bull momentum continuously declining, upper resistance significantly strengthening, the chart gradually transitioning to a bearish consolidation pattern, subsequent moves more likely to retrace and correct around key resistance levels. At hourly level, price failed to break previous highs after rebounding from around 70500, overall entering consolidation phase, major trend remains bearish, this rebound fundamentally represents technical recovery within the downtrend. Trading approach: maintain short bias primarily at higher levels provided breakpoint resistance holds, avoid blindly chasing longs.

Bitcoin can short 71300-71800, watching near 70500 short-term. Ethereum can short 2170-2200, targeting 2150-2130. #加密市场回涨 $BTC $ETH