Recently, the overall market remains dominated by bears. In the early hours, the bears briefly paused, and the bulls seized the opportunity for a quick rebound. After the price surged to the 70,000 level, it faced resistance and pulled back. Currently, Bitcoin is consolidating around the 68,300 range.

From the current chart, the 4-hour dual moving averages show an upward divergence trend, indicating a temporary recovery in bullish momentum. However, the candlestick pattern presents a V-shaped rebound structure. Even if it temporarily breaks through the upper band resistance, the rebound strength has not been effectively sustained. The medium-term downtrend has not been reversed; this is only a technical correction, not a trend reversal. The 70,000 resistance level is strong, and the upward space above is limited. High positions are not recommended for blind long entries, and caution is advised against sharp pullbacks after a rally.

Trading Suggestions
For Bitcoin, consider short positions near 68,800-69,600 on rebounds, targeting lower levels
Below 65,800-63,800; if broken, then look for a move down to 62,300
For altcoins, consider short positions near 2,080-2,130 on rebounds, targeting 1,950-1,850