Another week, another day. After a slight weekend consolidation, the market experienced a rebound in the early morning. The price reached the 61880 level and started to face pressure, falling back to the 61300 area. Yesterday, we clearly suggested going long on BTC in the 60700-60500 range. The market's movement is also in line with our expectations. The market was slow yesterday and there were not many participants, but profits were still realized. Currently, the upward momentum has slowed down, and we need to pay attention to the market's retracement. In terms of operation, it is advisable to adopt a bearish approach.

The daily trend showed a series of small positive candles after a large bearish candle on Friday, indicating weak rebound momentum. The daily chart is still in a process of oscillation and retracement, with all rebounds being rejected. The moving averages and Bollinger Bands continue to show signs of downward movement. On the 4-hour chart, there is a slow upward trend in the short term, but this rebound has not provided much strength for further upside. Therefore, it is still advisable to follow the overall structure, which is biased towards weakness. #BTC