#Gate用户突破3000万# Bitcoin experienced a sharp dip on Wednesday evening, reaching a low of 105211 before the market trend stopped falling and rebounded. Although the rebound strength is not significant, it can be seen that the short positions are gradually decreasing. From the current market data, the daily chart level has started to form a pullback after breaking the previous high. This is also a relatively common trend observed yesterday, where after a pullback, it effectively broke the low again and fell into a range-bound pattern. From the trend structure, it can be seen that we are currently in a range-bound stage, and the strategy is still to follow the range. In the short cycle, there is also an expectation of a rebound, but it has entered a stage of weak rebound. After the bearish line dropped, it fell into a recovery stage. Currently, there is a clear upward pressure and pullback on the daily chart, and the short-term trend is leaning bearish. However, it should be noted that there is a deeper decline on the hourly chart, and there will be a rebound correction action in the short term. Overall, the rhythm is bearish, but in the short term, one should pay attention to the rebound. Therefore, during the day, one can first focus on the rebound correction, and in the evening, there will be an opportunity to arrange short orders!