From the 4-hour structure perspective, Bitcoin experienced a rapid decline in the early stage and then entered a low-range consolidation and correction phase. The judgments on Monday and Tuesday were highly consistent with the market movement, with the price clearly stabilizing after dropping to around 68,000, followed by a rebound correction. The trend progressed exactly as expected.

Currently, the Bollinger Bands are continuously narrowing, and the price is repeatedly pulling around the middle band, indicating that the market has not yet established a clear direction and is still in the emotional correction phase. The area between 71,000 and 71,600 corresponds to the upper Bollinger Band and previous rebound high points, with clear resistance. After the rebound, volume has not kept up; the 68,000 level below has become a short-term support/resistance line, and until it is broken, it is not advisable to blindly chase short positions.

The intraday outlook remains unchanged, with the structure still showing weak oscillation during the rebound. In terms of operations, focus on the 70,500–71,500 area for resistance. Prioritize short positions, targeting 69,000–68,000. If the price revisits near 68,000 without breaking below and shows signs of stabilization, consider light long positions for short-term rebounds, with the first target at the middle band. Strictly follow profit-taking and stop-loss rules, avoid emotional trading, and do not chase the pattern.

A ranging market tests not whether your judgment is right or wrong, but who can better respect the market and take profits step by step according to the rhythm.