How to view the morning Bitcoin trend

Recent Bitcoin movements show that the upward momentum is clearly weakening, and downward pressure continues to increase. Although it briefly surged to a recent high yesterday, the rebound lacked sustainability, and the overall market remains in a consolidation pattern, exhibiting a rhythm of time trading for space. The medium-term outlook remains bearish. In the short term, the market sentiment is strongly bearish, and bulls have yet to organize an effective rebound. Resistance levels above are gradually moving down, combined with previous continuous pullbacks opening up more downside space, and a weak structure has basically been established.

From a small cycle perspective, the short-term is likely to see a rebound correction first, followed by renewed downward pressure. Currently, the market is in a phase of short-term bullish rebound. This is also a typical recent characteristic: minor rebounds during pullbacks, with highs gradually declining and lows continuously refreshing, which is a normal adjustment within a downtrend. Each rebound correction provides support for bears to accumulate momentum. The overall trend is likely to continue with one step of rebound and one new low, dominated mainly by bears.

Morning Trading Strategy:
Bitcoin: Short around 71,500-72,000, target 70,000
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Altcoin: Short around 2,100-2,130, target 2,000