After a slight correction over the weekend, Bitcoin experienced a sharp decline on Monday morning, breaking down together with the altcoin market. Bitcoin briefly touched the 64,918 level, while the altcoin market declined to around 1936, fully in line with previous predictions.

From the market structure perspective, the weekly chart has formed two consecutive bearish candles, with long upper shadows and closing lower, indicating a likely continuation of the three-week downtrend. Last week’s rebound followed by a retreat and weak closing also confirmed that the high-level correction demand is still ongoing, and the weekly correction space is usually relatively significant. Technically, after taking profits at high levels, funds quickly shifted to a downward trend. The 4-hour cycle is generally weak, with lows continuously being broken, previous support levels being lost one after another, and the small cycles showing a clear weak, one-sided downward rhythm. The rebound after touching lows during the session is only seen as a correction, not a trend reversal.

Short positions around 67,500-68,300 for Bitcoin, targeting 65,800-63,300.
Altcoin rebounds around 2,050-2,090, shorting towards 1,950-1,850.