$BTC Looking at the current chart structure, after three consecutive down days on the daily chart, prices are currently oscillating and consolidating around the middle band. This is a typical adjustment rhythm since the decline began. Today's K-line presents a cross star with a long upper shadow, indicating significant resistance encountered during the rebound process. Although the overall trend remains within an upward channel, the pullback has not confirmed a stop to the decline, and there remains potential for further downside exploration.

From an indicators perspective, the MACD dual lines maintain a sticky state above the zero line. If a bear cross forms subsequently, it could trigger a new round of adjustment momentum. Currently, there are no obvious signs of bottom divergence, indicating that bearish momentum has not been fully released, and the adjustment will likely remain incomplete. Under this structure, continuing to monitor the testing situation of support zones below is a more reasonable approach.

From the four-hourly chart, although there was a rebound intraday, it mostly belongs to a consolidation and correction of the prior downtrend structure, exhibiting typical top-bottom conversion characteristics. The current chart remains pressured by the adjustment structure, and the short-term support level at the 69000 line requires close attention. If this level is tested again or breaks below, it would suggest that the adjustment wave pattern will extend further.

Overall, the current chart has not yet shown clear reversal signals, with rebounds reflecting more of a correction rather than a trend reversal. Before the downtrend adjustment structure is broken, the approach should remain focused on oscillation and downside exploration, awaiting further clarity in the terminal structure.#Gate13周年全球庆典