Bitcoin is currently experiencing a sideways move with a slight weakness, and it’s clear that the bulls are struggling to hold their position. The rally on the four-hour chart was purely driven by news stimuli—pushed up but unable to sustain the momentum, and last night it directly retreated to 68,880. There is strong selling pressure above. It went straight to the level that Yifan anticipated.

The current rebound is essentially just "adjusting the chart," not a new upward trend, and the potential for further upward movement is limited. Additionally, risk-off sentiment remains, and funds are reluctant to enter the market. Overall, the trend is still bearish.

Simply put: this rebound is not an opportunity.

In terms of trading, avoid chasing the highs. Use the rebound between 71,200 and 71,900 to continue shorting, with a target of 69,000.