BTC rebounded weakly, and the bulls failed to chase after it. The high point stopped at 65500. This rebound high point is lower than the previous high point of 67232 on the 4-hour timeframe. The bulls failed to reverse this weak trend. Since it cannot go up, it is highly probable to continue searching for the bottom. The bears will also exert force to challenge the previous low of 56552.

Yesterday morning, this account issued a reminder in the community to reduce positions after the rebound, and made a simulation of the expectation of a 15-minute bearish trend for Bitcoin and Ethereum in the afternoon, both of which have been realized.

First, let's look at the 4-hour chart. As mentioned in yesterday's analysis of ETH, both Bitcoin and Ethereum show a trend of continuously decreasing high points and low points, indicating a bearish trend. If the bulls remain weak in the short term, the 65500 high point will likely form the seventh selling point in the 4-hour central axis, leading to further downside. Whether it will continue to break new lows will depend on the evolution of the downward trend type on the sub-level 30-minute chart.

Now, let's look at the 30-minute chart. After the bearish trend was confirmed at 5 pm yesterday, the bears exerted force again. Currently, there is a significant volume breakthrough below the lower boundary of the 30-minute central axis, and the MACD continues to open downward. The chart provides a probable trend, whether the rebound can enter the central axis and produce the third selling point, or directly decline with significant volume without entering the central axis.

In summary, the current trend has reached a very delicate moment. Considering the daily chart moving averages, the MA120 will be tested again. Once it fails to hold, it will likely continue to seek support towards the MA250. Therefore, we need to maintain a certain proportion of positions to cope with extreme situations. Even if it continues to break new lows and search for the bottom, we will not be completely passive.

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