Bitcoin is showing a overall oscillating downward trend. After reaching a high point around 91,000 at the start of today's session, it faced resistance and pulled back. During the oscillation, it continued to lose short-term support, with the lowest touching below the 90,000 level, once breaking below the 90,000 integer mark. Ethereum's movement remains highly correlated with Bitcoin, starting a downward trend around 3,150, with the lowest dropping to around 3,100. It has been showing a weak follow-through pattern throughout, highlighting the market's linkage.

On the daily chart, the downward trend continues to deepen. After experiencing a lack of momentum in the previous rebound, the market has shifted from a consolidation pattern to a steady decline. Bearish momentum continues to be released, driving the moving average system to form a synchronized downward suppression pattern. This indicates that the market trend has clearly turned to a bearish dominance, and this downward trend has strong continuity and structural stability. The four-hour chart continues to show a weak decline, with prices consistently constrained by the lower boundary of the channel, exhibiting technical features of a one-sided weak decline. This further consolidates the foundation for the daily trend. The previous break below the key support level at 92,155 has confirmed the downward momentum. Currently, the market rhythm indicates that bearish forces are still being released. Short-term rebounds are not signs of trend reversal but typical pressure retracements, mainly to accumulate energy for further declines. Coupled with ETF fund outflows and rising market risk aversion, early morning operations still focus on shorting during rebounds.

Specific trading suggestions: Continue to monitor resistance around 91,100-91,800 and 92,500-93,300. If unable to break through and stabilize, consider attempting short positions at high points, targeting a downward space of 500-5,000 points.