$BTC 7.27 AM Old Brother’s Thoughts

The past two days on the weekend have been choppy. Starting in the early morning hours, it’s been running a small rebound. Right now, price is holding around the 655 area. As long as the recent high isn’t broken, there isn’t any particularly positive catalyst on the news front for the time being, so it will still come down.

On the 4-hour timeframe, it has consistently failed to break through the upper band suppression. There’s heavy selling pressure above. Even the rebound’s red candles are only a phase correction—the bearish structure hasn’t changed. In terms of trading, the main idea is to focus on selling on rebounds from higher levels, and it’s not recommended to blindly chase longs.

Trading reference: in the 655-660 range, “箜” (to be interpreted as a trading level/range marker). Targets: 645-635.