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Bitcoin Short-term Analysis
Analysis: Rebound around 650-655 to look for a pullback, targeting 640-630
After the previous surge formed a local high, a continuous downward main wave followed, indicating a complete trend structure of the pullback. The entire rebound is only a weak correction within the downward trend.
Both moving averages continue to decline, forming a strong resistance zone. When the rebound touches the moving averages, it will encounter selling pressure and fall back. The rebound highs are gradually decreasing, and the bullish rebound momentum is continuously weakening.
The small rebound after the bottom is relatively weak, unable to effectively break through the upper resistance zone. The overall bearish trend remains unchanged, and trading should focus on rebounds supported by moving average resistance, mainly aiming for pullback setups. #我的Gate交易时刻 $BTC