Bitcoin is showing a overall oscillating downward pattern, starting a correction from yesterday's high around 95,531. During the oscillation, it continuously broke through short-term support levels, with the lowest touching the 91,910 area. Ethereum's movement is highly correlated with Bitcoin, starting its downward trend from the 3,233 high and dropping to around 3,164 low, showing a consistent weak follow-through, highlighting the market's correlation.

On the daily chart, the downward channel continues to extend in an orderly manner. After experiencing a prior rally followed by a pullback and the completion of bearish momentum release, the market has successfully shifted to a oscillating downward rhythm. The bearish momentum gradually intensifies, pushing the price below the short-term moving averages, which are diverging downward. This pattern indicates a clear trend reversal to a bearish dominance, with the downward trend showing strong persistence and structural suppression. The four-hour chart continues to display a weak decline, with prices consistently constrained by the lower channel boundary, oscillating lower with higher highs and gradually lower lows, further solidifying the daily bearish trend. Currently, the market shows that bearish forces are still accumulating. Short-term rebounds are not signs of trend reversal but typical weak corrections, mainly to gather momentum for further declines. Today's early operations focus on rebound-based short positions, with key resistance at the 93,500-94,500 range.

Specific trading suggestions: Pay attention to the resistance at the 93,000-93,800 and 94,300-94,800 zones. If these resistances hold, consider shorting from higher levels. Targets are 92,500, 91,800, 91,000, 90,300. If the 90,000 level breaks downward, look further to 89,300, 88,300, 87,500, 86,800, 86,300. Currently, the key level to watch is 94,500; holding above this level is considered a reversal signal.