Bitcoin shows a pattern of volume-driven decline, rapidly dropping from the high point of around 95,531 since early this morning, breaking through the key support zone of 94,500-93,500 in a short period, with a low of approximately 91,910. Although there was a slight rebound to around 92,800, the weak trend remains unchanged. Ethereum's movement is highly correlated with Bitcoin, simultaneously starting a downward trend from the high of 3,350, breaking below the 3,200 psychological level, with a low of around 3,180. Throughout the process, it exhibits a weak follow-through pattern, highlighting the market's linkage.

On the daily chart, a breakout signal has appeared in the upward channel. After experiencing a narrow sideways consolidation over the weekend and lacking effective momentum, a sudden surge of volume this morning triggered a sharp decline, successfully switching to a volatile downward movement. The bearish momentum is concentrated, driving the price below the short-term EMA20 support. This pattern indicates that the market trend has clearly shifted to a bearish dominance, with the downward trend showing strong continuation and structural breakout potential. The four-hour chart continues to show a weak downward trend, with the price effectively breaking below the previous consolidation lower boundary. The MACD indicator's green bars are lengthening, indicating a one-sided weak decline, further solidifying the foundation for the daily trend to remain bearish. Currently, the market rhythm shows that the bearish force is still being released. Short-term rebounds are not trend reversal signals but typical oversold corrections, mainly to accumulate momentum for further declines. Today's early operations focus on rebound-based short positions, with particular attention to resistance in the 93,800-94,500 zone.

Specific trading suggestions: Watch the resistance at the 93,000-93,800 and 94,300-94,800 zones. If these levels hold without being broken, consider short positions from higher levels. Support levels are at 90,300-89,300. If support is broken, the target can be down to 96,800-96,300. Staying above 94,500 and stabilizing is considered a reversal signal.