The Bitcoin chart shows a relatively strong upward trend, surging to around 69,300 before facing resistance and pulling back. We provided a short-term short entry, and the profit from the pullback was realized as expected! In the evening, the US stock market opened higher again, reaching around 69,100!

From the current market situation, the trend is in a correction phase after the surge. After reaching a high, Bitcoin formed a long upper shadow and then entered a sideways decline. The hourly chart shows two attempts to break through the 69,000 level that failed to hold, forming a small double-top pattern. Resistance levels are clearly defined above, and volatility continues to narrow, with bears consolidating at high levels. The four-hour Bollinger Bands are parallel and upward, but the recent rallies lack sustained volume, indicating significant manipulation by the main players. Although the larger cycle rebound trend has support, short-term correction pressure is increasing. Therefore, the outlook remains bearish for short-term short entries!
For Bitcoin, short near 69,100-69,700, targeting 67,500-66,300.
For Altcoins, short near 2,160-2,200, targeting 2,080-2,020.