Bitcoin daily chart still mainly shows a downward trend, with rebound candlesticks all featuring long upper shadows, indicating increased selling volume during rebounds, and rebounds with decreasing volume, suggesting that the bulls' support strength remains relatively weak. The Bollinger Bands are opening downward and expanding, so the key focus is on the lower band at 62,000 as the first support level within the day. If it can be effectively broken downward, a trend-following short position can be taken. Currently, the middle band at 64,500 forms a strong resistance level; the bulls' rebound with no volume is unlikely to break through this level. On the four-hour timeframe, the overall structure shows a sideways downward oscillating range, with rebound highs gradually decreasing, and the bears repeatedly testing the lower boundary support of the range. A breakdown would accelerate the downward trend. Therefore, maintaining the strategy of shorting on rallies remains the most prudent approach, patiently waiting for a breakdown to open a new round of downward space.