# As the Week Approaches Its End, Will the Major Selloff Story Repeat?

Partners, do you still remember the long-term trading idea I gave at the end of last week? Looking short from the 73000-74000 zone targeting 68000-63000 — I'm sure you all know how that turned out, right? Those who followed along definitely got their fill, didn't they?

Looking at the current situation, after BTC tested down to the 65500 level in the earlier period, it subsequently rebounded and recovered. Combined with various news developments, BTC has recently rallied to a high of 71700 zone. From a resistance perspective, the highs are clearly moving down. While the short-term pullback magnitude isn't substantial, it has nonetheless blocked further upside movement.

On the daily chart, since BTC's sharp drop to the 65500 level, we've seen consecutive bullish candles. However, there are also obvious upper wicks appearing above. Despite the consecutive bullish closes, the overall weakness structure hasn't undergone real-time changes — the overall bias remains weak.

On the 4-hour chart, don't be fooled by the fact that the lows are gradually moving higher. Clearly, the highs haven't achieved effective breakouts either. Don't get deceived by this illusion — the major trend is still bearish. Therefore, I'm not considering bottom-fishing here. We remain bearish on the market going forward.

Key focus: the 72000 resistance level. If this level doesn't break, we trade short directly near this area, targeting the 66000-63000 zone below.