BTC intra-day short-term upward channel structure has been effectively broken, the bullish upward pattern has disintegrated, and the phased trend reversal signal is gradually materializing.

The medium to long-term view remains unchanged; 6w is not the ultimate bottom of this round of market, and the overall bear market adjustment structure has not yet completed.
The current market has re-established a downward channel, entering a weak oscillation and decline cycle in the short term, with key resistance around 774; support is seen near 763, and once support is broken, forming a double top structure, the downward space will further open.
Combining the daily technical structure, MACD bullish momentum continues to weaken, rebound energy is severely insufficient, and all rebound trades mainly involve short positions following the trend.
Short positions arranged at high levels can continue to be held and profit taken on the decline, following the trend.
Even if the short-term market involves trap trading, secondary attempts to test previous highs, and liquidity harvesting actions above, the upper limit of this rebound is only around 815, with very limited space.
In the context of a bear market cycle, trading strategies must be conservative; avoid blindly bottom-fishing or going long against the trend, especially after continuous stretching, as the risk of chasing the rally is very high and positions are easily trapped at high levels.
Subsequently, patiently wait for the structure to materialize; only after the market effectively breaks below 6w and forms a new phased low of stopping the decline, consider gradually deploying long positions in batches, with a holding period of more than half a year.