From the technical charts, Bitcoin is currently at the intersection of "macro bearish" and "long-term bottoming." The short-term moving average and MACD bearish signals indicate that the rebound remains weak, but support from the 200-week moving average, narrowing Bollinger Bands, shrinking hash rate, and the extreme buy signals on the rainbow chart collectively form a strong medium- to long-term bottom defense. Intraday, the strategy is to continue to go 🈳 at high levels.