【$BTC Signal】No Position, Waiting for Downward Momentum to Exhaust

$BTC Shows a waterfall decline on the 4H timeframe, with the price breaking below key support, but a short-term oversold rebound has occurred. The current funding rate is negative, indicating bearish market sentiment, but order book depth shows selling pressure concentrated above 66K.

🎯 Direction: No Position (NoPosition)

After experiencing a single-day drop of over 8%, the price found initial buying support in the 59.8K-62.2K range and rebounded. However, the 4H candlestick structure has been broken, and the rebound high (66.1K) failed to recover the previous low, forming a lower high. The negative funding rate indicates that bears are in control, but excessive negative rates may also trigger short covering rebounds. Currently, the price is close to the sell wall (around 65.8K), making a direct breakout difficult. The strategy should be to wait for clearer bottoming signals (such as double bottoms, higher timeframe support confirmation) or evidence of bulls re-absorbing, rather than blindly shorting or bottom fishing.

Trade here 👇 $BTC

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#Is the current market bottoming or just watching?