#BTC The market experienced a rapid pullback. After the U.S. stock market closed, the price entered a low-level sideways consolidation around 69,800, and the weak oscillation pattern continued.

A sharp decline overnight directly broke through the middle line of the hourly chart. This round of correction did not show the previous frequent tug-of-war between bulls and bears, but instead presented a state of sustained pressure at low levels!

After the consecutive rally in the past two days, the market itself has accumulated significant correction pressure, and the bullish momentum is gradually weakening.

The short-term structure has become relatively clear. After this round of sideways consolidation ends, it is highly likely to continue testing downward. A rebound followed by a short position is currently a more reasonable approach!

On Wednesday afternoon, the big brother rebounded to 70,350-70,850, then shorted, targeting the 68,500-68,000 range!