Reviewing the intraday market, the overall trend remains a correction after the early morning dip and pinching. Bitcoin repeatedly touched the high near 76,500 and faced resistance downward. The intraday pullback did not lead to further breakdowns, and the market is generally in a consolidation and accumulation phase within a range. Ethereum showed some rebound strength intraday, but the correction recovery was weak. The price reached the 2270 level and faced resistance, then fell back. The relative strength remains weak, in a bearish-dominated market. Today, we mainly engaged in short-term trading in the spot market, without including it in the official statistics. The recorded spot trades include two short positions on Bitcoin, totaling a profit of 1,800 points. Simultaneously, Ethereum was traded alongside Bitcoin, with a total gain of 75 points.

Looking at the current chart, after a series of consecutive daily declines, the trend has turned bullish with a correction. Overall, the upward movement is weak, and the rebound has not stabilized further. In this daily upward channel, the bulls are still in a relatively shrinking phase. The MACD indicator shows a dead cross at high levels, and the bullish volume adjustment is poor. In the short term, the pullback is still supported by the 120-day moving average. Continued attention is needed; a daily close below the 120 MA would signal a continuation of the bearish trend. Otherwise, the overall price will likely remain in a high-range consolidation. On the 4-hour chart, the highs are gradually declining, and the lows are continuously testing downward. Although there is a short-term bottoming and correction phase, it does not indicate a trend reversal for the bulls. Before breaking out of the downward channel, any rebound is still considered a buildup for the bears.

Bitcoin can short at 76,300-76,800, with targets at 75,500-74,000. Ethereum can short at 2,260-2,280, with targets at 2,240-2,200.