$BTC Bitcoin's evening outlook remains mainly biased towards the upside, but short-term rebounds are not to be chased. Look more for opportunities to sell on resistance and pullbacks.

From the 15-minute structure, after this wave of rally to around 72,800, it quickly pulled back with a clear upper shadow, indicating that selling pressure above is still heavy and this is a rebound for profit-taking rather than a true breakout. Currently, the price has fallen back below the moving averages, with MA7 and MA30 beginning to flatten and weaken, signaling that the short-term momentum has shifted from strong to sideways or slightly bearish.

The price repeatedly fails to hold above the middle Bollinger Band, with the lower band continuing to open downward, gradually releasing space. This suggests that the bears are taking control of the short-term trend. In terms of volume, there was an increase during the rally and continued decline during the pullback, typical of a distribution phase.

After a high-level death cross on the MACD, volume continues to decrease as it declines, indicating that momentum is gradually fading. The KDJ is also at low levels but has not shown a clear turning point, implying no definitive sign of a trend reversal yet.

Rebound near 71,500, then:
Target: 70,500, and if it breaks below 70k, it could directly target 68,500.

Rebounds are opportunities to sell, not signs of a reversal. Follow the trend, avoid fighting against it, and wait for the rebound to stabilize before shorting. Do not chase after low positions!