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Bitcoin has continued to weaken since the high at 741, generally oscillating downward along the channel line. During this period, rebounds have been feeble, repeatedly setting new lows. Last night, it accelerated its dip, probing down to 661, after which the selloff temporarily eased. It is currently consolidating in a narrow range near the lows.
From the 4-hour chart, the price action has continued an overall pattern of drifting lower after the high at 742. The price has kept falling under pressure from the middle band of the Bollinger Bands. In the evening, it saw an increase in volume as it dropped sharply to the 661 low. Currently, it has slightly stabilized and is consolidating in the short term. The bearish structure over the larger timeframe remains intact, and rebounds are still weak. Therefore, we continue to look for bearish moves in line with the trend.
## Trading Suggestions
Bitcoin: short on a rebound to around 672, targeting 661-650; wave band at 638.
Altcoin: short on a rebound to around 1875-7895, targeting the previous low at 1837; wave band at 1780#分享美股交易赢英伟达股票