BTC current quote is 63,856. Overall, it’s a pullback after a spike up, and the short term is weak.

On the 4-hour timeframe, it has been falling steadily from the 65,589 high. The KDJ has formed a dead cross and is moving downward; bearish momentum is still being released. As of now, there is no clear signal of a bottoming out. The 1-hour cycle is more intuitive: the highs are stepping down one by one, rebounds lack strength, and it’s in a slow grind-lower “bearish base-building” state. The short term favors the bears.

In terms of execution, prioritize shorting from the high. If the price rebounds into the 64,300–64,500 range, you can enter a short position. Place the stop loss above 64,800.

If the first pullback into the 63,300–63,500 area holds up, you can take a small long bet for a quick trade—quick in, quick out. If there is an effective breakdown below 63,000, immediately stop loss and exit.

Currently, we’re in a pullback phase—don’t blindly catch the bottom, and control your position size. $XAU ‌