This small rebound is just to make you cut losses early; the big one is still to come. The current price of Bitcoin is 103210. The wedge mentioned yesterday also broke through before reaching the position where the support and resistance levels switch, and then started to decline. Around 106500 on the hourly chart, there have been several doji candles, followed by a downward breakout action. Doji candles generally represent market uncertainty. A subsequent downward breakout action still proves that the bears have taken over the market. The hourly chart also reached the support level of the previous low, hence a slight rebound occurred. It has been mentioned that this round of upward movement is along the 6-hour Vegas channel, which has now been broken. All time frames are bearish, so bulls need to be cautious. They can take advantage of rebounds, but not in the larger direction.

Regarding altcoins, KAIA has reached the daily support and resistance level and will face the selling pressure from trapped positions ahead, potentially leading to a sharp decline. The 15-minute chart also shows a double top with exhausted bullish momentum. $BTC $KAIA