$BTC Big Cake Four-Hour Chart Analysis

On the 4-hour chart, the overall trend has already broken away from the previous high and is gradually moving downward. 64,691 is the extreme high point of this rebound cycle. After that, each rebound peak keeps getting lower. Lows continue to be refreshed during the pullback phase, and the medium- to long-term downtrend for shorts has already taken shape. Earlier, after a rapid drop that touched 61,297, there was a minor rebound, but the rebound strength was weak. It is only a corrective rebound after the decline, not a reversal to strength. Throughout the entire rebound, there was no continuous influx of substantial funds, and the bulls lack conviction.

From the candlesticks, during the rebound phase the bullish candles generally have relatively small real bodies, while the bearish candles during the pullback have larger real bodies. This indicates that as long as the price rises slightly, a large amount of sell orders will pour in from above. Although there is short-term support around 61,500, it is mostly retail traders doing quick bottom-fishing and absorbing there; big funds have not set up spot positions here. This kind of support is not very stable and can be broken again easily.

Thursday morning trading strategy: Short around 62,400–62,900, with a target of 61,000.