Bitcoin is currently oscillating with weak momentum, and bulls clearly don't have much staying power. That four-hour surge was purely news-driven stimulus—it couldn't hold the gains and fell directly back to 68,880 last night with real selling pressure above. It moved exactly as I predicted for the key level.
The current rebound is essentially "fixing the chart"—it's not a new round of uptrend and the upside is limited. Combined with lingering risk-aversion sentiment and reluctance from capital to enter positions, the overall momentum remains bearish.
Put simply: this rebound is not an opportunity.
Operationally, don't chase the highs. On the 71,200-71,900 rebound zone, continue shorting with targets toward 69,000.
Bitcoin is currently oscillating with weak momentum, and bulls clearly don't have much staying power. That four-hour surge was purely news-driven stimulus—it couldn't hold the gains and fell directly back to 68,880 last night with real selling pressure above. It moved exactly as I predicted for the key level.
The current rebound is essentially "fixing the chart"—it's not a new round of uptrend and the upside is limited. Combined with lingering risk-aversion sentiment and reluctance from capital to enter positions, the overall momentum remains bearish.
Put simply: this rebound is not an opportunity.
Operationally, don't chase the highs. On the 71,200-71,900 rebound zone, continue shorting with targets toward 69,000.