Friday Morning Bitcoin Outlook

Short-term rebound still lacks sustainability. Last night, Bitcoin faced resistance around 74,000 and started to decline, then oscillated downward all night, with the lowest touching around 70,600 early this morning. The overall trend remains consistent with yesterday's high-altitude strategy, and the downside space for this wave is quite considerable. Currently, the price is fluctuating around 71,000.

From the four-hour structure, the market shows clear signs of losing momentum in the rally. After facing resistance above 74,000, it continuously fell back, with rebound strength clearly insufficient. Moving averages are gradually turning into a bearish alignment, MACD shows a dead cross extending downward, and KDJ is diverging downward simultaneously. Short-term momentum is notably bearish, indicating that the current market is still dominated by bears. Until the price re-establishes support above key resistance levels, there is still a possibility of further decline.

Morning Trading Strategy
Rebounds should mainly be used for shorting. Focus on shorting in batches around 71,200–71,800, with further targets at 68,000–66,000.