Intraday market has experienced a deep correction since the early session, but the overall trend remains oscillatory and continues. In the early session, Bitcoin bottomed out and rebounded, testing the high of around 69,000, then faced resistance and pulled back. The low near 68,200 was tested but met resistance, leading to a rebound. Currently, the price continues to fluctuate within this range without any signals of further breakdown.

Ethereum tested a bottom early on, then rebounded to around 2,120 before facing resistance and pulling back. The relative price remains oscillating around the 2,100 level. The bullish rebound is currently in a shrinking volume phase, while the bears still dominate the market during the flat trading session.

The daily chart continues to turn bearish, moving around the midline for consolidation. The key focus is whether there will be a breakout signal from the midline. Currently, both bulls and bears face resistance in the flat session, and the price relative has fallen below the previous upward channel, indicating a weak structure.

Looking at the four-hour chart, there are four consecutive bearish candles, with the price lows consistently touching the Fibonacci 38.2% key level for a rebound. The highs are also linked to the 23.6% level. The market's consolidation and pullback are hindered by the 120-period moving average, which frequently shows lower shadows.

The key focus is on whether the 68,200 level will break. Currently, the KD indicator shows a death cross with downward volume expansion, and the MACD's fast and slow lines also show signs of a death cross. In terms of trading strategy, rebounds can be shorted further.

Bitcoin can be shorted in the 68,800-69,200 range, with targets at 68,200-67,500. Ethereum can be shorted in the 2,105-2,120 range, with targets at 2,080-2,050. #加密市场行情震荡 $BTC $ETH