5.1 Morning Market Outlook

Looking at the four-hour chart, after Bitcoin's decline from its high, the overall downward channel has basically taken shape. The current price is in a weak consolidation phase after the decline, with the bulls' rebound strength clearly insufficient. The resistance effect of the previous high continues to be evident; each upward attempt fails to break through effectively, instead increasing the support costs below, giving the bears repeated opportunities to suppress.

From the candlestick structure, recent rebounds are small-scale technical corrections, with no signs of volume-driven upward breakthroughs. The overall center of gravity is slowly shifting downward, typical of a consolidation in a downtrend. The current price oscillates within a range, seemingly showing signs of stabilization, but in reality, it is the accumulation of bearish momentum. Once the rebound momentum is exhausted, a new round of decline is likely to begin.

In terms of trading strategy, maintain a bearish bias, mainly shorting on rebounds. The key resistance levels above are the critical entry zones. As long as the price cannot effectively break through the resistance zone, stay firmly in short positions. During short-term oscillations, avoid chasing rallies or panic selling, and patiently wait for a rebound to face resistance and then short.

Bitcoin trading strategy: Short near 76,700-77,200, target 74,500
Altcoin trading strategy: Short near 2,270-2,290, target 2,220