The enjoyable weekend has come to an end. Over the past couple of days, the market has been exactly as expected—dead water with no fluctuations!

Currently, Bitcoin is just consolidating sideways after a decline. Many people are overly bearish and rushing to buy the dip, but as I always say, don’t stubbornly go against the trend with counter-trend trades. That’s not a sign of a rebound.

Looking at the hourly chart, it’s very clear. The price has attempted to break through three times at 67148, 67284, and 67100, but each time it failed and dropped back, leaving long upper shadows. In simple terms, it can’t push higher; each rally is just an illusion. For a real rebound, the price must close firmly above 66781, but so far, it hasn’t stabilized above this level after three attempts, so the conditions for a rebound are not present.

Never think that a big drop must lead to a rise. The trend is much more important than the price. Even if it drops to 10,000, as long as the downtrend remains, it can continue falling. Currently, there’s also a head-and-shoulders pattern forming, with the key level at 66261. If it breaks below this line, the hourly downtrend will be confirmed, and it will likely test the previous low of 65501. If 65501 is also broken, the next support zone is between 64196 and 63038. The previous consolidation zone will then be invalidated, and the market will look for a new range to oscillate.

Right now, the best scenario is for Bitcoin to stay within the current range and oscillate. It can’t rebound until it stabilizes above 66781, and external conditions are not supporting a rebound either.

$BTC Trading strategy: Short within the 66700-67215 range. The first target is 66300. If the 4-hour chart breaks below 66300, the next support levels are 65398-64038.

Looking at the daily chart, the previous consolidation pattern and the 20-day moving average have been broken. The MACD indicator is weakening, indicating a bearish dominance. Only if the price re-enters the consolidation zone and breaks above the 20-day moving average can a true rebound be possible. During this process, pay close attention to volume changes. Currently, the main strategy is to short, and avoid rushing into longs.