The recovery strength of Bitcoin intraday has indeed exceeded expectations. Early in the session, the market initially dipped to around 64,900, then stabilized and gradually regained ground, maintaining a volatile trend overall. In the evening, it rebounded to around 68,100. Early on, we positioned a short order near 66,900 and successfully gained over 700 points. At noon, the plan was to re-enter a short position based on that area, adjusting the entry price through scaling in and out, but after observing the market, the strong upward momentum triggered a stop-loss and exit. In the evening, after failing to hold above 68,000, we decisively re-entered a short position, earning over 800 points and recovering previous losses. Currently, we have re-entered a short order at 67,800, with floating gains, waiting for further market pullback.

From the current market view, after the evening rally and pullback, Bitcoin is consolidating within a narrow range of 67,000 to 68,000. Based on larger cycle analyses such as monthly and weekly charts, Bitcoin has established a dominant downtrend after turning bearish. Although there is a short-term technical rebound demand, the upward momentum is weak, and volume support is insufficient, limiting the height and sustainability of the rebound. On smaller timeframes, while the market shows a oscillating upward pattern, key resistance levels above are significant, and the trend structure is fragmented, with no effective breakout. The current ratio has entered overbought territory, with multiple indicators showing bearish crossovers simultaneously, indicating a typical overbought correction within a larger downtrend, not a trend reversal signal. Therefore, in terms of operation, small-scale traders can cautiously bet on short-term rebounds; but for medium- and long-term or swing trading, it is still essential to focus on the main downtrend.

Bitcoin: Short around 67,800, with a target of 65,600.
Altcoin: Short around 2,100, with a target of 1,980. $BTC #BTC能否守住6.5万美元？