Today, Bitcoin continues to decline, and the current trend has already broken below yesterday's low. Market panic sentiment continues to spread. From the four-hour timeframe, the level has fallen near the lower band of the Bollinger Bands' downward channel. In terms of volume, there is no significant bullish volume at the current position. The larger cycle is approaching the 60,000 level, so a short-term pullback will definitely not be the recent bottom. The strategy is to maintain a rebound-then-short approach.