From a technical structure perspective, Bitcoin is currently in a critical consolidation phase. Although the daily chart shows a long upper shadow, the overall center of gravity has moved higher compared to previous days; meanwhile, the 4-hour chart displays a corrective trend within a downward channel, with the rebound highs continuously declining. The high point area of the intraday rebound is also the current immediate resistance level. If it cannot effectively break through and stabilize above this area, the price is likely to remain volatile or continue to decline.