Since early morning, the overall trend of Bitcoin has been mainly around the bears. Although the market maintained a sideways movement above 66,400 after midnight, multiple tests upward failed to produce a sustained breakout. After reaching around 66,700, it faced obvious resistance, indicating persistent selling pressure overhead. Subsequently, the market gradually weakened in the morning, especially after 6 o'clock, as the bears accelerated their momentum. The price continuously broke through the short-term support levels of 66,000 and 65,500, with a low of around 64,900. The short-selling strategy provided early on was also realized with a good profit. Overall, this decline is not just emotional fluctuation but the continuation of the bearish trend after repeated resistance at high levels. The market momentum has already shown that before breaking through key resistance, following the trend to short is always more proactive than going against it. Stable trading is not about guessing the bottom but respecting the trend, allowing profits to unfold naturally along the correct direction.

From the current market situation, the 64,900 level forms the short-term first support and is also the low point after this decline. However, the rebound back to around 66,000 has not changed the overall weak structure. On the one-hour chart, the previous high near 66,800 has formed clear resistance, and the recent decline directly broke through the morning consolidation zone, indicating that overhead pressure remains heavy. Although there was a rebound after this decline, the overall situation is still in a recovery phase after a high-level pullback. The key level to watch is still around 66,800, which is both the previous high and an important position for short-term bulls and bears to contest. Only by regaining stability above this level can the market have the chance to open further upside space. Otherwise, after the rebound ends, it is likely to continue oscillating weakly and test deeper supports. The focus below should be around 64,500; if this level is touched again later, it will determine whether the short-term enters a deeper correction. Overall, it is more appropriate to continue treating the current market as a bearish trend after a rebound, not rushing to chase shorts at low levels. Waiting for a rebound near key resistance before entering is still the more prudent approach at this stage. Let profits unfold along the correct trend naturally.