BTC remains in a high-level oscillation with a slightly weak trend, trading within the 66,500–67,500 range, with short-term bears dominating. On the daily chart, it faces resistance at the short-term moving averages, and attempts to rebound to the 68,600–69,000 zone are met with clear resistance, with insufficient volume. The 4-hour cycle shows a oscillating downward structure, with 66,000 as a key support level. If this level is effectively broken, it may further decline to the 65,000 level. Trading strategy mainly involves shorting on rebounds, with a secondary focus on short-term long positions after stabilization, strictly controlling position sizes and stop-losses. Market sentiment is cautious, short-term volatility is increasing. It is recommended to follow the trend, avoid blindly chasing orders, and wait for a clear direction before entering the market.