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6.4 Thursday morning: the bears keep pressing—just follow the trend.
Overnight, Bitcoin once again made a new low, dropping straight below the 650 level. This is also our first target area from the past two days—now it’s perfectly hit. The second target at 630 is next, and it can’t come soon enough.
In terms of structure, it’s still the same weak bearish setup, with no signs of any rebound in the short term. As the bears on the higher timeframe keep increasing their real volume, it further consolidates the overall downward trend. At this stage, whether it’s the cycle or the environment, everything is led by bearish downside—so just follow the trend.
Morning reference: 656, 662—open shorts in batches, targeting 630-620 below.