Reviewing the early morning market action, Bitcoin rebounded for a second time and recovered to around the 71,000 level, but the bulls showed weakening momentum with increased volume. The altcoin ratio subsequently pulled back into correction territory. Currently, the market is oscillating and adjusting around the 70,700 level. Regarding Ethereum, it recovered to around 2,180 but faced selling pressure and pulled back. It's currently hovering around 2,180. Throughout the day, I've been reminding everyone to watch the Bitcoin and Ethereum range. Early morning short-term trading also yielded some profits. From yesterday evening's mentioned current price positions, Bitcoin captured 1,300 points, and Ethereum captured 50 points of profit.

From the current market perspective, the daily large bullish candle has recovered the pullback from the previous three bearish candles. The altcoin ratio is currently moving near the mid-band. The overall trend appears to be a rebound after retesting the bottom, but in terms of actual recovery strength, it remains suppressed as before with relatively weak volume expansion. Throughout the overall consolidation range, we can still arrange short positions for downside targets. The key resistance at 71,000-72,000 upside has not broken, so the trend won't change to a bullish reversal. Combined with the four-hour chart, there's key resistance above. The overall bullish candles have frequently shown upper shadow line structures, indicating insufficient strength from the bulls to recover. With previous key resistance not broken, the overall trend remains unchanged. In the short term, we should maintain a bearish bias.

Bitcoin can short at 70,500-71,000, targeting around 68,000. Ethereum can short at 2,150-2,180, targeting 2,100-2,200. #加密行情震荡 $BTC $ETH