Currently on the hourly chart, all three lines are moving downward in sync, forming a standard weak downward channel. The price sharply broke below the lower band and rebounded slightly, currently in the oversold zone under the lower band, with bears dominating the market.

The previous highs continue to lower. After a significant drop, there is a small recovery bullish candle, which is a weak rebound after the decline. The 63,200 level above is the short-term strong resistance zone, and it will be difficult for a rebound to break through in one go.

A weak rebound to the middle band will encounter significant selling pressure, making it the best time to short in the evening.

Short-term strategy: Go short on a rebound to 62,900-63,100, target 62,000, and if broken, look at 61,300-60,200.

If the rebound remains very weak, you can enter short positions earlier around 62,500-62,700 with the same targets.

For the dip-buying opportunity, first watch the support strength near the previous low of 61,300. #BTC