Today’s Bitcoin trend indeed exceeded expectations. It sharply dipped to 64,900 in the morning and then rebounded strongly, reaching 68,100 in the evening before pulling back. The monthly and weekly charts have already established a bearish trend. The short-term rebound is merely a technical correction after an oversold condition. Bullish funds are hesitant to follow in, and the rebound is limited in height.

Although the market appears to be oscillating and strengthening, in reality, there is heavy resistance above. Indicators are weakening simultaneously, and there are clear signs of trap signals. Small-scale traders can cautiously take short-term long positions to test the waters, but the overall outlook remains bearish. The wave strategy should adhere to a bearish stance.

Trading suggestion: Around 67,000-67,600, with a downside target of 65,600-65,000, and a break below 64,000.