Bitcoin rebounded from the high of 72,000 and then fell back, closing lower in the afternoon, repeatedly breaking below the 70,000 level. The short-term bullish structure has been completely broken, and bearish signals are densely appearing in the market.

Moving averages are collectively turning downward, Bollinger Bands are widening, and the bearish momentum continues to expand. The rebound lacked volume support throughout, and market selling pressure has significantly increased, with weak willingness from bottom-fishing funds to enter.
The current trend is clear; do not blindly bottom-fish or chase longs. Trading against the trend is very easy to get trapped. It is recommended to stick to a strategy of following the trend and mainly shorting on high.
Stop-loss level: 71,700
Support level: 69,000
Practical trading strategy:
During the rebound to 71,000-71,500, gradually enter short positions, targeting 69,500-69,000.