Last night, after the bottoming out of the price, the coin price quickly rebounded to 69,500, but then lacked the momentum to continue upward. Subsequently, the market entered a narrow range of tug-of-war around 68,800, and this consolidation is still ongoing.

The four-hour chart shows long wicks on consecutive candles, indicating intense tug-of-war between bulls and bears. Although the rebound after a significant pullback has somewhat alleviated selling panic, overall selling pressure still continues to suppress the price rebound. The bearish momentum remains dominant. Once the correction and recovery phase ends, the trend is likely to continue downward.
On the hourly chart, the price has stopped falling and has been moving below the middle band. Two attempts to rebound and test the middle band failed to break through effectively. Although there is a short-term rebound trend, given the current weak bullish momentum, without significant news or positive US market stimuli, the price is unlikely to break upward in the short term. The outlook remains for a continued pullback. Continue to participate in short positions on rebounds for higher entries.
For Bitcoin, consider shorting around 68,800, with attention around 67,500. For Ethereum, consider shorting around 2,070, with attention around 2,020. #Gate正式接入Polymarket #比特币震荡走弱