Midnight market continues to decline, with the market experiencing heavy selling. Both Bitcoin and Ethereum prices have broken through key psychological levels. Bitcoin's price once plummeted to 72,889, hitting a new 16-month low. Ethereum also weakened simultaneously, dropping to a low of 2,103. The sharp price decline triggered a large-scale liquidation of long leverage positions. According to data, the total liquidation amount across the network within 24 hours reached approximately $414.64 million, with up to 88.4% of the liquidated positions being long positions, reflecting extremely fragile market sentiment. Although prices rebounded slightly afterward, the overall market remains in a clear short-term downtrend.

From a technical perspective, the current bearish pattern is solid, and any rebound faces significant resistance. The daily chart shows Bitcoin's price still confined within a clear downward channel, forming lower highs and lower lows. The key resistance zone is at 78,500-79,500, coinciding with the downward channel resistance and EMA lines. If the price is rejected at this zone, it presents an ideal shorting opportunity. The main support is located at 74,500-74,700 demand zone; if broken, it could accelerate the decline toward 72,000 and below. The 4-hour chart of Ethereum shows a complete bearish structure with lower highs and lower lows, with the ADX indicator confirming a strong downtrend at high levels. The price faces dense resistance around 2,450, with a key support at the swing low of 2,160. If this support is effectively broken, the price is likely to slide toward the next target zone of 2,000-2,050. In summary, the market trend is clearly bearish, and no reversal signals have appeared in the technical structure. The target remains at support levels below, and until a decisive change in price structure occurs, a bearish outlook should be maintained. #BTC何时反弹？ $BTC