Strategy: Open a short position when Bitcoin rebounds

As mentioned previously, Bitcoin is in a descending channel, and the strategy of shorting on rebounds is correct. After rebounding above 114,000, it encountered resistance from the descending channel and then fell smoothly, pocketing profits from the short position.

A small-scale downward trend channel forms within this channel, where the market primarily experiences volatile declines. A break below the channel will accelerate the decline.

For short-term trading, long positions should be established at channel support and short positions should be opened at channel resistance.