From a 4-hour perspective, Bitcoin previously bottomed out around 59,800 and rebounded, reaching a high near 72,300 before facing resistance and pulling back. Currently, it is trading below the middle band of the Bollinger Bands, with prices oscillating around 66,200. The Bollinger Bands are converging, with the middle band forming short-term resistance around 67,700. The upper band has moved down to around 70,100, while the lower band has risen to approximately 65,400, indicating a generally weak and consolidating structure.

In terms of trend, the highs are gradually decreasing, the rebound strength is weakening, and the bearish momentum is dominant. However, there is temporary support at around 65,400, so short-term blindly chasing short positions is not advisable; it’s more suitable to participate in rebounds.

The intraday strategy remains primarily bearish on rebounds. Watch the 67,000-67,800 resistance zone. If a rebound fails to break above the middle band, consider gradually shorting in parts, targeting 65,500-65,000. A break below that could extend the decline toward 64,000. If volume suddenly increases and it stabilizes above 68,000, short positions should be closed promptly and switch to a wait-and-see approach, observing the pressure around 70,000.

Overall, the trend is weak and oscillating. Operate with controlled positions, favoring quick entries and exits, and avoid stubborn battles.