Market outlook for Bitcoin on the afternoon of the 3rd: The rebound correction has come to an end, and the bearish outlook remains unchanged.

From the 4-hour chart, the candlesticks continue to decline and have broken below the short-term moving averages. Overall, the pressure is still present, and the market is oscillating weakly. Pay close attention to the 71,000 level.

On the hourly chart, the candlesticks are still under the resistance of the short-term moving averages, maintaining a narrow range of consolidation at low levels. The short-term bearish pattern has not changed, and it is important to monitor the pace of short-term recovery.

After consecutive rebounds and corrections, the downward momentum is stronger. It is not advisable to blindly go long; focus on short positions.

Short around 70,800, with targets at 67,500-67,000.