Bitcoin's recent rebound looks lively but is actually somewhat "hollow." From a technical perspective, it remains trapped within a downtrend channel, representing a typical oversold correction rather than a trend reversal. The current bullish momentum mainly comes from short covering, with limited volume and weak buying interest, indicating the overall pattern remains relatively weak.

Currently, the price is below the key moving average resistance zone, with short-term moving averages in a bearish alignment, continuously exerting downward pressure on the price. The daily chart shows a complete downward channel, with higher highs moving lower and lower lows being broken, but the structure remains intact. Although indicators have slightly recovered, they are still in a bearish zone and show no signs of a strong reversal. The strength and sustainability of this rebound are limited, so it is recommended to focus on short positions.

Trading Suggestions:
For Bitcoin, short near 59,800-70,600, targeting 68,300-63,000. If it breaks below, then look for a further decline to 65,300.
For altcoins, short near 2,080-2,130, targeting 2,000-1,910. If it breaks below, then look for a drop to 1,830.