BTC 12H Market Analysis

From the 12-hour perspective, the price is still trading within the descending channel. The current rebound has re-crossed the channel's midline, but has not yet tested the upper boundary resistance. Until a valid breakout of the channel occurs, I view this upward move as a technical rebound within the downtrend and do not consider the major trend to have reversed.

Currently, the 63500-64000 area is a resistance zone where price aligns with the upper boundary of the descending channel and a previous high-volume area. This region offers the best risk-reward ratio for this rebound in my view, and it is a suitable zone to attempt short positions.

My trading plan is as follows:
Entry: Short 1% at 63500, short 1% at 64000
Leverage: 100X
Stop-loss: 64800
Total position: 2%
This is for reference only and does not constitute any investment advice. Please strictly manage your position and stop-loss.

If the price shows reversal signals such as high-volume stagnation, long upper shadows, or bearish engulfing patterns at the resistance zone, I will execute the plan. If the price breaks through the channel strongly and holds above it, that would invalidate my trading hypothesis, and I will accept the stop-loss and wait for a new structure to form.