The current Bitcoin has been continuously declining to the 65751 range, with the short-term overall in a weak adjustment phase. The short-term Bollinger Bands are trending downward, and the price is under constant pressure below the middle Bollinger Band at 66099. Capital outflows are ongoing, and bullish momentum is weak. The intraday low of 65328 serves as short-term support. The KDJ indicator has entered the low zone, indicating a slight rebound may occur, but the rebound strength is limited, making it difficult to directly reverse the downward trend.

The 4-hour major cycle Bollinger channel remains upward. This round of decline is merely a technical digestion after consecutive days of sharp gains and has not broken the medium- to long-term upward structure. The long-term recovery and upward logic remain unchanged.

If there is a slight rebound testing the middle Bollinger Band pressure near 66099 and it fails to break through, a short-term downward move can be expected. Before the short-term correction ends, rebounds are opportunities for shorting at high points. If the price stabilizes and stops falling around the 65328 support, showing clear signs of stabilization, it will be a short-term buy-in window aligned with the medium- to long-term bullish trend, aiming to catch the rebound wave.

A short-term decline does not negate the long-term trend, nor should one blindly fight against the trend. Strictly follow the long-short separation strategy: hold long positions with an upward target, short on resistance, buy low on support, and control the rhythm within zones to avoid risks from unilateral adjustments.