After a night of sideways consolidation, Bitcoin's market still has not seen significant fluctuations, with prices fluctuating around the 26300 area, with a range of no more than a hundred points. Yesterday, after a brief rebound and recovery following a pullback to the low of 26000, the overall market still shows a weak trend. Both long and short positions participated in yesterday's layout and achieved gains. The strength of the short-term rebound is weak, so the bearish view should be maintained in operations.

Currently, the overall trend has formed a more obvious wide-ranging trend, with weak continuity for both long and short positions. The price fluctuates around the upper and lower ranges of the daily Bollinger Bands, and in the short term, it is a process of falling back under the pressure from above. From the 4-hour chart, it can be seen that the short-term trend is a downward oscillation, and this round of decline has not yet been completed. The market continues to test the lower levels. The rebound given is also limited, as it cannot surpass the recent high point, indicating that such rebounds are only corrective after the downturn, laying the groundwork for another downturn. Therefore, the rebound is not a reversal, so do not blindly chase after it. Any weak rebound is just a smokescreen. Therefore, it is advisable to continue to maintain a bearish view and participate in the market under this rhythm.

In terms of future operations for Bitcoin, it is recommended to short around the 26500 area on a rebound, with a target focus on the 25800-25500 level.

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