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The big cake shot up on the 1-hour timeframe, then sharply fell back, and the short-term price action has now formed a clear downward structure. Currently, the rebound has reached the middle Bollinger Band and is continuing to face pressure; the overall bearish trend remains unchanged.
The current rebound is a pullback continuation within the decline, and bullish momentum is clearly weak.
The KJ indicator is moving sideways around 50; no effective golden cross has formed. It could turn downward again at any time, continuing the downtrend.
Overall outlook: Prefer going short on rallies.
Trading suggestions:
69300–7w range, hollow (箜), target around 68000–67000$BTC $ETH