$BTC How do you see the upcoming market action?

First, the broader context: We're still in a bear market overall. Looking at time cycles, price structure, and fundamentals, there's still one final wave of decisive selling needed before the market can truly bottom. Without that kind of liquidation-style crash, it will be difficult to see a substantial rally afterwards, because the chips that were bought at the lows are essentially future selling pressure as prices rise.

So for the current short-term action, don't get too excited about every bounce, and be especially vigilant about whether each rebound is just the starting point for a new decline. The previous two breakouts above prior highs were both followed by pullbacks of varying degrees—this is classic bear market rhythm: they pump it up to clear liquidity, then dump it.

Bitcoin's last wave saw 4 consecutive daily red candles after the new high, then a rebound. This current wave has already produced 3 consecutive daily red candles. We'll need to watch whether another red candle follows, then another rebound.

Although we're in a bear market now, we're still oscillating back and forth within a wedge formation, so long/short switches happen quickly. A bounce after consecutive declines is normal, especially since this daily-level decline left a gap between 72000-73000, which price will likely fill on a rebound—this is a high-probability event.

But from a longer-term perspective, as long as BTC stays below 73000, the overall downtrend structure remains intact. Even if there's a bounce, it looks more like it's just giving you a better shorting position.

On the short-term, the 69500-69000 level I mentioned in the community does have support—it's a trend line plus the previous takeoff point. Yesterday's repeated testing around 69000 validated this support. But if this rebound can't hold 70700, its strength is mediocre.

If you want to trade the rebound and already went long around 69000 yesterday, then watch 68400～68000, which is the previous low reversal zone and where long positions above easily get liquidated.

Overall, I'm still leaning toward a range-bound, bearish bias. The key overhead resistance is 73000—shorting has priority below this level. Short-term support may prompt a rebound, but the strength will be limited, and we might test lower again.

Trading-wise, a retest to 68400-68000 could be considered for a bounce trade with targets at 70700, 71500, 72800. If the rebound gets blocked around 73000, that's a shorting opportunity.