Over the weekend, due to macro news, BTC rebounded but then dropped again, breaking below the 63,000 level. Although the technical trend temporarily shows signs of stabilization, the current market indicates that the bottoming phase has not yet seen increased volume, meaning selling pressure has not been cleared. This results in a weaker rebound and makes me doubt that the second bottom has been completed. Additionally, on the macro front, the resolution of the US-Iran conflict marks an important macro bearish signal. Moving forward, it’s crucial to observe whether the price can find support around 60,000 or if a slight dip below that level will quickly rebound. If the price effectively breaks below the short-term rebound level and cannot return to 60,000, the double bottom logic will be invalidated, and a new downtrend may follow. Personally, I think the probability of that happening is low.

Although there was increased volume this weekend, it was still lower than Thursday’s trading volume, indicating that the current decline has not yet cleared much selling pressure and is still insufficient. I maintain a short-term bearish outlook on the market.

BTC: Short at 64,950, target 62,450, stop at 66,000.