Bitcoin is showing a weak oscillation pattern at high levels intraday. After a slight rally from the 70650 level in the early morning, it failed to sustain the momentum and subsequently pulled back under pressure, testing support multiple times with a low exploration reaching the 69680 area. Overall, the push higher lacks strength with weakening oscillations. Ethereum is moving in sync with Bitcoin, showing a slight rally from the 2148 level in early trading before quickly declining, with a low touching 2102. The correlated weakening characteristics are evident, and market sentiment is turning cautious.

On the daily timeframe, the upward rhythm has noticeably slowed with price oscillating repeatedly at previous highs without effectively breaking through key resistance. Short-term bullish momentum is gradually diminishing. The moving average system has shifted from resonant uptrend to horizontal consolidation, with the uptrend structure loosening. The chart has transitioned from strong bullish to high-level oscillation consolidation, lacking sufficient phase-wise upward momentum with a need for corrective consolidation. On the 4-hour timeframe, the price action shows a rally-pullback pattern with multiple probes of the channel upper band encountering resistance and pulling back. The short-term focus is gradually shifting lower with weakening bullish attack intensity, and the technical picture is progressively turning to weak oscillation.

Currently, the overall chart is under pressure at high levels with contracting volume. Intraday minor rebounds are technical corrections rather than trend reversal signals, with significant selling pressure above and low willingness among funds to chase higher prices. Short-term pullback strength is gradually expanding with main players mainly engaging in oscillation washouts and digesting high-level positions. Today's operational strategy shifts to laying short positions on rally pressure, with following-the-trend high shorts as the core strategy.

Specific operational suggestions: Pay attention to the pressure situation at the 71600-72300 range above as well as the 72800-73500 range. When pressure reaches these levels, brief spikes can be attempted for shorts going high, with a downside target of 500-6000 points of space.

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