Last night, the cryptocurrency price tested the resistance at 77k and then once again accelerated downward, with the low point approaching the 76k level. Subsequently, the price showed a steady slow recovery, currently trading around the 77,000 level in a narrow range. Reflecting on yesterday’s US session layout, I had already indicated that there was no trend reversal at 77.5k and clearly provided a short-selling strategy. Our real trading short positions from 77,690 to 76,244 gained over 1,400 points again. The current retracement of Bitcoin was mostly well-controlled throughout. While others chase the rise and sell the dip, we only harvest the market, follow the right people, align with the trend, and focus on compound returns to steadily lock in profits.

Looking at the four-hour chart, Bitcoin has formed three consecutive bullish candles, quickly rebounding and repairing the chart. Currently, the bears are gradually reducing their volume, and the short-term rebound trend is relatively strong. However, the overall price still maintains a strong downward trend structure. In the short term, we need to keep an eye on the gains and losses around the midline of the four-hour chart. Although the price shows some buying support in the short term, such a weak rebound market will inevitably lack sufficient continuation in the future. The current sentiment remains bearish.

On the short-term hourly chart, after testing support below, the price quickly recovered most of the retracement with a bullish engulfing candle. The price has again moved above the midline, but overall, the highs and lows continue to decline. If there is no strong rebound and breakout, the bearish outlook remains unchanged—continue to short on rebounds.

For Bitcoin, short at 77,500-78,000, watch around 75,700.
For altcoins, short at 2,150-2,160, watch around 2,050.