Bitcoin 1-hour cycle current price 58631, bearish selling pressure remains persistent. After peaking at the previous high of 60924, the channel has been declining continuously, dipping to a low of 57758 before a slight recovery. The price is currently stuck below the middle Bollinger Band at 58756, which directly forms strong resistance. The upper Bollinger Band continues to slope downward, and the overall downward structure remains unchanged. This rebound has been accompanied by shrinking volume throughout, with no incremental capital entering the market. It is merely a weak recovery after an oversold condition, and no reversal signal has appeared.

Short-term thinking still prioritizes looking for a pullback under rebound resistance. Only with a volume-driven breakout above the middle band will there be limited upside room. The current overall pattern remains weak, awaiting the release of evening news.