Daily level: Over the weekend, bulls are moving in small steps at a slow pace, with price gradually testing upward. After breaking through the Bollinger middle band, it has maintained movement in the middle-to-upper band, and the trend appears stable, but upward momentum is clearly weakening. Friday's spike left a long upper shadow, merely a probing pierce of resistance without effectively opening upside space.

The 74,000 region from earlier periods shows extremely strong pressure and is a key bull-bear dividing line. If there's repeated failure to effectively break through, the structure would easily form a double-top pattern; once confirmed, the market would likely trigger a new round of accelerated decline with significant pullback magnitude.

Do not be misled by short-term rebounds; the major direction remains bearish. The early session rally is essentially technical correction after the sharp decline and has not changed the overall downtrend structure.

Bitcoin: Short around 72,000-72,800, target downside 70,000-69,000

Ethereum: Short around 2,120-2,160, target downside 2,060-2,000

Monitor the situation near support levels; if effectively broken, continue looking lower; otherwise, go long $BTC $ETH