Currently, the bullish momentum of Bitcoin is gradually waning, and the price is consolidating with a downward trend. After finding support around 65,500, it has begun a technical rebound. At this stage, the overall pattern remains in a range-bound consolidation. The hourly Bollinger Bands are continuously narrowing, indicating reduced short-term market volatility. Both bulls and bears are trading cautiously. Previously, after the price broke above the upper band, buying momentum was insufficient to sustain the move, failing to test the upper band again. Instead, the price pulled back and broke below the middle band. Although it later stabilized and rebounded above the middle band, the rebound was weak and failed to re-enter a strong trading zone. From a technical perspective, the narrowing of the Bollinger Bands indicates a weakening of short-term trend momentum. The strong signal from the previous breakout above the upper band has quickly faded. Breaking below the middle band also suggests that the bulls' dominance is loosening. While the price temporarily holds above the middle band, the overall upward momentum is lacking, and resistance levels above are significant. The short-term trend remains bearish, and it is advisable to follow the trend and short accordingly#深度创作营