Last night, Bitcoin experienced a retracement, with the price falling to the 720 to 730 range, failing to hold the 740 level, and the overall market sentiment was relatively weak. The second largest coin also declined simultaneously, currently oscillating between 1960 and 2020, with a rather bearish market mood. Looking at the four-hour chart, the candlesticks frequently close with long upper shadows, indicating strong selling pressure above, and traders are reluctant to chase longs at high levels, with buying momentum weakening. Simply put, it’s unable to rise further or stabilize, and the rebound lacks strength. If it cannot quickly increase volume and break above 74200, this rebound will only be a minor correction, and there’s a high probability it will retest lower levels later.

In terms of trading strategy, it’s still preferable to short on rebounds, avoiding blindly chasing the rally.

Trading suggestions:
- The primary coin should short between 740-745, targeting 718.
- The second coin should $BTC short between 2020-2050, targeting 1910.