From the weekly timeframe, the current rise is still in line with expectations for a rebound rather than a reversal. 677 is a short-term bottom, but it is not the bottom of this bear market.

From the daily chart, I still expect price action to stay within a ranging/sideways range. Don’t blindly go short. Since 647 failed to hold above, don’t blindly go long either. The upside resistance to watch is 643 and 655—consider going short there.

Downside support lies around 622 and 608. Between 605 there is a large amount of liquidations that have not yet been completed. For long positions, it’s best to place stop-loss below 60k.

Personally, my inclination is to add longs at the 622 area and top up at 608; stop-loss below 60k. At the top, take 643 as the head and 654-665 as the add; stop-loss at 68K $BTC