# Morning Update: Bitcoin and Ethereum Analysis

Bitcoin initiated a corrective pullback from around 71,800 in the early morning, reaching a low of 70,000. Our pre-positioned short strategy materialized as expected. In the afternoon, price rebounded to around 71,300, but upside momentum was clearly insufficient.

From a chart perspective, while the 1-hour level briefly reclaimed above the moving average, the 4-hour resistance remains evident. Multiple tests above 71,300 lack follow-through, with significant selling pressure and profit-taking at higher levels. The daily level continues trading within the previous high consolidation zone with no effective breakout on volume expansion. Overall structure remains bearishly biased.

**Bitcoin:** Short 71,500-72,300, target 70,000-68,500, break lower then watch 67,300
**Ethereum:** Short 2,180-2,220, target 2,110-2,010#成长值抽奖赢金条 $BTC $ETH