Last night's dip broke through the 69,000 level as expected, touching a low of 68,700, with bearish momentum further released. Although the price rebounded sharply to around 69,400, this action is technically still a corrective rebound caused by short-covering after the sharp decline, and does not constitute a signal of trend reversal.

From the chart structure perspective, the breakdown of the 69,000 level further strengthens the market's bearish pattern, with this position converting from previous support to important resistance for subsequent trading. The current price rebound to around 69,400 is precisely the key area to test the validity of this breakdown. If unable to quickly recover and consolidate above the 69,700-70,000 range, this rebound is likely just a technical correction within a downtrend continuation pattern. On the indicator level, the 4-hour MACD double line continues to show a death cross below the zero axis with divergence, and the bearish momentum histogram shows no significant volume contraction, indicating that the market's medium-term adjustment is not yet complete.

For evening operations, continue maintaining a bearish momentum trading approach, with focus on monitoring the rebound resistance situation in the 69,500-69,700 area. When price stalls and falls back in this region, consider opening short positions with targets further toward the 68,000 round number level. Meanwhile, stop loss should be placed above 70,200 to guard against repeated washouts from extreme market movements. #Gate13周年全球庆典 $BTC