1️⃣ Bitcoin's price movement is relatively slow, currently favoring short positions.

2️⃣ Trading volume shows decreasing buying pressure and increasing selling pressure, with no bullish divergence; long positions are adding, and funding rates are relatively high, limiting the rebound space.
3️⃣ Retail investors are strongly bullish, supporting levels are under pressure and easily broken, with previous lows likely to be lost.
4️⃣ External US stock technology shares weaken, dragging down the market, with weekly trend showing weakness.
5️⃣ Trading framework: Hold above the key support line and avoid shorting for now; a break below confirms a shift to short, and the bearish trend will accelerate downward toward the target level.