From a structural perspective, BTC currently resembles more of a technical correction after a decline rather than a trend reversal. The daily chart shows a rebound after a false breakout with divergence, but the rebound strength is limited, facing resistance near key moving averages. After three consecutive bullish days, small bearish candles appear consecutively, indicating that the bullish momentum has significantly weakened.

The smaller time frame trend is more typical, showing a wedge-shaped rebound pattern after a decline. This pattern in a weak market often serves as a consolidation phase. After the rebound ends, further decline is more in line with the current rhythm. Around 60,000 is an important short-term support; if it is effectively broken, the market is likely to further release downside potential, with 57,500 still being a key target area to watch.
From a trading perspective, the current strategy still favors a bearish outlook on rebounds. The area around 65,000 is a short-term resistance zone; if the rebound fails to stabilize, it could easily become the starting point of a new downward wave. The first target is 60,000; if it is lost, the focus shifts further down to around 57,500.
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