Bitcoin overall shows a "oscillating downward, breaking support and weakening" trend. Last night, the price gradually declined from around 76,200, repeatedly breaking through the 75,000 and 74,000 levels, accelerating downward during midnight, with the lowest touching around 73,700, hitting a near one-week low. In the early morning, the price rebounded slightly to around 73,800 for consolidation, but the rebound was weak and failed to recover the 74,000 level. The overall trend presents a one-sided decline, with the high points gradually moving down from 76,200 to below 74,000, and the lows continuously refreshing, with no clear sign of stopping the decline during the session. Ethereum is even weaker, with a rebound near 2,350 facing resistance and falling back, once again breaking below the 2,300 level. After three breaks, the bears continued, with the lowest dip around 2,250 to halt the decline. Last night, as the price broke downward, shorting on the break gained about 1,000 points, and the altcoin gained nearly 40 points.

From the current daily chart structure, Bitcoin has completely retraced its recent upward movement with consecutive declines, falling again into the weekly adjustment zone of 73,200-73,800. It is currently at the bottom of the upward channel, with the key resistance at the critical support level of 73,200. Moving forward, focus on whether the daily structure breaks downward overall. This round is still in the adjustment phase after a rally, with pressure from the 120-day moving average, which was also mentioned in previous strategy sharing as a key resistance. In the short term, further consolidation should focus on whether the mid-line can continue to rise and form resistance at the key support, providing a rebound. Currently, low positions can attempt to add long positions. Combining the four-hour chart, the candlesticks show consecutive declines, exploring near the lower band for consolidation. The Bollinger Bands are still in a narrowing phase, with no divergence in indicators. The short-term decline has reached oversold territory, and a phase rebound is expected for adjustment. In early trading, short-term long positions can be attempted.

Bitcoin's key support is at 73,200, the critical support level established during last week's consolidation. If broken downward with increased volume, attention should turn to the 72,000 level. For short-term trading, early attempts at short positions can be made, with resistance around 74,800. For altcoins, focus on the 2,250 support level for long positions, and observe whether 2,300 forms a top or bottom to judge the strength of bulls and bears.