During the midnight session, Bitcoin showed a slight upward fluctuation, with the price testing the 68,600 level before facing resistance and pulling back. It found support around 67,300, stabilized, and rebounded. Subsequently, it oscillated higher, once again stabilizing above the 68,000 mark and entering a range-bound consolidation.

From a structural perspective, this midnight rebound is a typical technical correction. Although the price tested and held above the 68,000 level three times, the previous assessment remains valid: this is only a minor rebound correction and does not change the overall medium-term trend. The four-hour chart shows that since the peak of 76,000, Bitcoin has experienced multiple similar rebound structures, with the rebound momentum gradually weakening each time. Although there was a slight breakout this time, it did not effectively reverse the medium-term downtrend, so the overall bearish outlook remains unchanged.

Buy on dips near 68,600-69,200, target 66,700-65,200
Short near 2,110-2,160, target 2,050-1,940,019,283,746,565,748,392,01