Bitcoin has recently exhibited an interesting phenomenon—technical signals across different timeframes are sending conflicting messages. The daily chart looks very bearish, but the 4-hour and hourly charts are showing signs of a rebound. This mismatch makes it more complicated to judge the next move. Today, let's analyze the stories told by these three main cycles.

**The story on the daily chart is quite pessimistic**

BTC is clearly in a downtrend on the daily timeframe, with overall technical indicators leaning bearish. Since the peak, the price has fallen below key moving averages like EMA7, EMA30, and EMA120. It is now completely pressed down by all short- and medium-term moving averages. The moving averages are neatly aligned downward, indicating a clear bearish trend. Chart patterns also show a classic "Dark Cloud Cover" bearish formation, which typically suggests the mid-term downtrend will continue.

On the indicator side, the outlook is not optimistic either. The MACD has already experienced a death cross; although the green bars haven't significantly expanded, the bearish momentum remains. The RSI has bounced slightly from oversold territory but is still below the midline at 50, not signaling a clear bullish reversal. The most concerning aspect is volume—over the past few days, daily volume has been steadily decreasing, indicating a lack of market enthusiasm and insufficient bullish capital to trigger a meaningful reversal.

**The short-term cycles are "acting up"**

However, the 4-hour and hourly charts tell a different story. These two timeframes are showing signs of a partial rebound, directly opposing the daily bearish signals. After a continuous decline, the price is starting to form a rebound structure, which could develop into a short-term rally. This multi-timeframe divergence is precisely what makes the current market so interesting—the short-term technicals are attempting to resist the downward pressure from the daily chart.

**What’s the next step?**

The key is whether this short-term rebound can be confirmed. If volume supports it, the divergence between the 4-hour and daily charts may gradually converge, creating a genuine reversal opportunity. If volume remains weak, the short-term rebound might just be a countertrend within the larger daily downtrend. Currently, it’s a period of observation—attention should be paid to upcoming volume activity and whether key moving averages can be effectively broken through.