2.26 Bitcoin Market Analysis

On the 4-hour chart, yesterday's market showed a bottoming and rebound pattern. The price once surged strongly to the 70,000 level, and the bullish momentum seemed powerful, as if a reversal was imminent.
But the key issue is: a surge does not equal an effective breakout. The 70,000 level itself is a critical resistance zone in this stage. Without increased volume to establish a firm position or forming a structural reversal, it’s merely touching the level without a true breakout.
The previous downward structure has not been broken, and the trend of lower highs remains. There is still significant selling pressure above, with dense trapped positions, and outside funds are not strongly willing to chase the rally. This upward move is more of an emotional rebound and short covering, not a trend reversal of the bulls.
It is recommended to watch around 68,500-69,000 for a short position, with a target near 67,500-66,000.
For altcoins, consider shorting around 2080-2110, with a target near 2000-1900.