Yesterday, we provided a bearish outlook for Bitcoin (大饼), and the market has been trending downward in line with our analysis, fully reflecting our post.

On the 4-hour chart, after two rounds of bullish tests near the middle Bollinger Band, the price began a five-session decline, falling back; the Bollinger Bands are continuously expanding downward, indicating that the bearish momentum is still being released.

Each rebound after a decline has been weak, and the overall market remains in a bearish pattern. The KDJ indicator shows a dead cross and continues to diverge downward, further confirming that the short-term market is dominated by bears.

Bitcoin is around the 73,700 to 74,200 range for a rebound, with short positions targeted at 72,400 and 71,800.