Good morning, friends. Over the weekend, the overall market trend continued a slow retracement. From last night to early this morning, the price again experienced a rapid pullback. After a simple shakeout and consolidation, the current price has once again shown a downward tendency to test further. The ongoing decline in price sets the tone for this week's market. In the new week, I will continue to wholeheartedly lead new and old students to follow the trend and make every strategic layout. Follow the rhythm, and profit opportunities will surely come.

Looking at the 4-hour chart of BTC, after five consecutive bearish candles, the current price dropped sharply below the lower band with a large bearish candle. Although a hammer pattern has appeared, indicating some signs of slowing down, the 4-hour timeframe still shows an overbought condition. The rapid and significant pullback will inevitably trigger market panic and selling. The current shakeout and consolidation are more about technical repair of the chart. If there is no strong support below, the price will continue the trend and further decline.

In the short-term hourly chart, the price shows a rapid downward trend with consecutive bearish candles. The brief minor rebound with small bullish candles has not significantly hindered the current strong downward trend. The Bollinger Bands are expanding rapidly downward, and the price continues to move around the lower band. With the current dominance of bears, the downward channel is quickly opening. Maintain a bearish outlook for now.