Today’s Bitcoin is like a traveler wandering near the edge of a high cliff.

This morning, it gathered strength and surged all the way up to the cliff top at 68,388.9, attempting to break through the solid defense line above 68,000. But just as it reached the edge, it was harshly pushed back by a strong bearish wind, stumbling and losing its balance.

Currently, it is trapped in a narrow valley between 66,000 and 68,000. Every time it tries to rebound, the bears hold it down tightly, and the more it struggles, the more it sinks. Moving averages are pressing down layer by layer, like a series of ropes blocking the way; trading volume continues to shrink, indicating that the bulls have long lost the momentum to charge.

This is not a reversal, just a brief pause before the bears gather strength again.

Trading suggestion:
The 68,000–68,600 range is a shorting opportunity, with a stop-loss at 69,000, and the initial target at 66,000.