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7.9 BTC
This short-term bounce lacks volume support; as soon as the price edges up, it gets knocked down by large sell orders. All short-term moving averages have become "ceilings", firmly pressing down on the price. The bulls simply cannot absorb the selling; every upward push is just a trap to lure longs, not a real reversal.
The 4-hour chart clearly shows a downtrend. Scattered bullish news cannot reverse the overall downward movement, and the space for a rebound is very limited. When the price reaches the concentrated resistance area, it will be a good opportunity to go short.
Short near 62500-63000, targets 61500, 60800.
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