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Morning Bitcoin Analysis
Analysis: Consider placing a contract order around 647-650; watch 635-620; defense/stop loss at 655
Last night, Bitcoin traded in a tight range all day. In the early morning, it started a pullback; although it did not break the prior low, bearish signals emerged. It continued to run along the lower Bollinger Band, the channel widened, and downside room opened up. The weekend rebound on the hourly timeframe is merely an oversold correction, not a trend reversal. Overall, the bearish structure remains unchanged: rebound highs keep moving lower, and moving averages continue to suppress price. The current downtrend is clear. For trading, short in line with the move based on rebound resistance #我的Gate交易时刻 $BTC