Although it has rebounded slightly from the 21-month low of 57,800, Bitcoin's overall market structure remains weak as its 200-day moving average continues to slope downward.

Everyone should still remain cautious. If it cannot decisively break through and hold the strong resistance zone of 63,000 to 64,000, there is likely to be a risk of a pullback to the critical support of 58,000, which could open the door to a decline into the 56,200 to 53,000 range.