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🚀 Binance chat room has launched the 【private chat】 feature! To facilitate smoother communication in the future, you no longer have to worry about not being able to find me if you have questions; you can add me as a friend or join the chat room!
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Add Friend:
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Join Chat Room:
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For everyone's convenience, please scan to enter the chat room, so that market trends and news can be communicated directly in real-time!
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251211 Daily Market Analysis - Yen Rate Hike Will Be the Next Market Hotspot
$BTC
After the FOMC meeting, the federal funds rate was cut by 25 basis points from 4% to 3.75%.
The latest Federal Reserve dot plot predicts one rate cut each in 2026, 2027, and 2028. The final expectation is to maintain the interest rate stable at 3.1%.
After a night of back-and-forth battles between bulls and bears, the US stock market/gold/crypto sector faced intense news-driven competition.
After announcing the interest rate cut, the US stock market rebounded massively, with Bitcoin following suit and frequently spiking at smaller levels, until the subsequent speech by Old Powell, which hinted at a reduction in the pace of interest rate cuts and a high probability of pausing rate cuts in January next year. Subsequently, the market experienced another round of decline before the close of the US stock market, as bulls chose to close positions in the absence of new rate cut expectations for the future, leaving the market to decide the next steps.
After the FOMC meeting, the federal funds rate was cut by 25 basis points from 4% to 3.75%.
The latest Federal Reserve dot plot predicts one rate cut each in 2026, 2027, and 2028. The final expectation is to maintain the interest rate stable at 3.1%.
After a night of back-and-forth battles between bulls and bears, the US stock market/gold/crypto sector faced intense news-driven competition.
After announcing the interest rate cut, the US stock market rebounded massively, with Bitcoin following suit and frequently spiking at smaller levels, until the subsequent speech by Old Powell, which hinted at a reduction in the pace of interest rate cuts and a high probability of pausing rate cuts in January next year. Subsequently, the market experienced another round of decline before the close of the US stock market, as bulls chose to close positions in the absence of new rate cut expectations for the future, leaving the market to decide the next steps.
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Stay up all night to finish an assignment.
1 There are no new clear expectations for market interest rate cuts; more data is needed, and the pace and rhythm of interest rate cuts in 2026, 2027, and 2028 will slow down.
2 Continue purchasing U.S. Treasury bonds to stabilize market liquidity-----prevent market collapse.
3 This interest rate cut is still aimed at maintaining stability in the labor market.
4 There are internal divisions within the Federal Reserve, mainly regarding the extent of interest rate cuts and whether to cut rates at all. The number of cuts in 2025 has already been sufficient; the effects of the cuts need time to manifest in the market.
5 Inflationary pressures are not significant, especially the inflation caused by tariffs may only be temporary.
1 There are no new clear expectations for market interest rate cuts; more data is needed, and the pace and rhythm of interest rate cuts in 2026, 2027, and 2028 will slow down.
2 Continue purchasing U.S. Treasury bonds to stabilize market liquidity-----prevent market collapse.
3 This interest rate cut is still aimed at maintaining stability in the labor market.
4 There are internal divisions within the Federal Reserve, mainly regarding the extent of interest rate cuts and whether to cut rates at all. The number of cuts in 2025 has already been sufficient; the effects of the cuts need time to manifest in the market.
5 Inflationary pressures are not significant, especially the inflation caused by tariffs may only be temporary.
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251210 Daily Market Analysis - Rate Cut Already Priced in
$BTC
The large pancake experienced an unusual surge in volume during US stock trading, skyrocketing to 94,000, but subsequently faced brief resistance and began to pull back.
The upward volatility continues, but there was a short-term overexertion, and there was no new bullish force to break through the previous high, so there are no recommendations for chasing higher at a small level; wait for the pullback to end before looking for opportunities.
At 3 AM, on the night of the Fed's interest rate decision, the expectation of a rate cut had long been priced in by the market, and with this surge, the news of the rate cut was almost fully priced in.
For those with long positions, just ensure you have protective stop losses in place; for those without positions, observe from the sidelines.
The large pancake experienced an unusual surge in volume during US stock trading, skyrocketing to 94,000, but subsequently faced brief resistance and began to pull back.
The upward volatility continues, but there was a short-term overexertion, and there was no new bullish force to break through the previous high, so there are no recommendations for chasing higher at a small level; wait for the pullback to end before looking for opportunities.
At 3 AM, on the night of the Fed's interest rate decision, the expectation of a rate cut had long been priced in by the market, and with this surge, the news of the rate cut was almost fully priced in.
For those with long positions, just ensure you have protective stop losses in place; for those without positions, observe from the sidelines.
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251209 Daily Market Analysis
$BTC
Bitcoin's intraday fluctuations are small. After a minor drop below 905, it has been continuously narrowing with low volume, and the volatility is genuinely touching.
In the evening, pay attention to whether it can stabilize above 905 to initiate a small-level bull rebound. If it breaks through 92k, it will move to higher positions, 94k.
U.S. stocks are expected to correct at high levels. If Bitcoin follows suit in the evening, pay attention to the support test around 80k.
If it breaks down with volume, bulls will wait around 86k.
Upper resistance: 90950/91900/92860/94000
Lower support: 89500/88000/85800
$ETH
After the ETH breakout, the bulls have started to weaken significantly. The good news is that it hasn't broken below 3080 with volume yet, so there is still a chance for short-term bulls to follow Bitcoin and rebound upwards.
Bitcoin's intraday fluctuations are small. After a minor drop below 905, it has been continuously narrowing with low volume, and the volatility is genuinely touching.
In the evening, pay attention to whether it can stabilize above 905 to initiate a small-level bull rebound. If it breaks through 92k, it will move to higher positions, 94k.
U.S. stocks are expected to correct at high levels. If Bitcoin follows suit in the evening, pay attention to the support test around 80k.
If it breaks down with volume, bulls will wait around 86k.
Upper resistance: 90950/91900/92860/94000
Lower support: 89500/88000/85800
$ETH
After the ETH breakout, the bulls have started to weaken significantly. The good news is that it hasn't broken below 3080 with volume yet, so there is still a chance for short-term bulls to follow Bitcoin and rebound upwards.
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251208 Daily Market Analysis
$BTC
The morning big cake closed the weekly line. It closed relatively well, standing back above 90k. For this week's round of market, especially the bullish rebound, it looks relatively good.
The small level completed the consolidation structure over the weekend, ultimately breaking upward.
After completing and breaking through intraday, it dipped down for a retest, oscillating upward for continuation.
If there is another pullback in the evening, pay attention to the price performance around 90k to confirm the support's validity, then continue upward to see a breakthrough at 94k.
Upper pressure: 91900/92860/94000
Lower support: 89500/88000/85800/84400
$ETH
The exchange rate has tested the upper boundary of the consolidation structure again. The weekend's consolidation test failed to break upward with volume.
The morning big cake closed the weekly line. It closed relatively well, standing back above 90k. For this week's round of market, especially the bullish rebound, it looks relatively good.
The small level completed the consolidation structure over the weekend, ultimately breaking upward.
After completing and breaking through intraday, it dipped down for a retest, oscillating upward for continuation.
If there is another pullback in the evening, pay attention to the price performance around 90k to confirm the support's validity, then continue upward to see a breakthrough at 94k.
Upper pressure: 91900/92860/94000
Lower support: 89500/88000/85800/84400
$ETH
The exchange rate has tested the upper boundary of the consolidation structure again. The weekend's consolidation test failed to break upward with volume.
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251207 Daily Market Analysis
$BTC
Last week, the large pancake completed a beautiful second pullback. The daily level has formed a potential bullish double bottom structure.
It seems intent on ending the bearish trend and has successfully completed a minor stop-loss.
After breaking through the previous high, there was again pressure and a pullback. The bullish momentum on a smaller scale seems to be slightly lacking.
The 4H level pullback has begun, with a weekend consolidation on reduced volume, and both bulls and bears are no longer testing further.
Whether it's the expected bottom structure or the rebound's oscillating upward forming a bear flag, there are significant price levels for reference.
Attention should be paid to re-establishing above the range of 90k-91k, only then will the bullish rebound continue.
Last week, the large pancake completed a beautiful second pullback. The daily level has formed a potential bullish double bottom structure.
It seems intent on ending the bearish trend and has successfully completed a minor stop-loss.
After breaking through the previous high, there was again pressure and a pullback. The bullish momentum on a smaller scale seems to be slightly lacking.
The 4H level pullback has begun, with a weekend consolidation on reduced volume, and both bulls and bears are no longer testing further.
Whether it's the expected bottom structure or the rebound's oscillating upward forming a bear flag, there are significant price levels for reference.
Attention should be paid to re-establishing above the range of 90k-91k, only then will the bullish rebound continue.
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251205 Daily Market Analysis
$BTC
After the big pancake surged, it began to oscillate downward for a callback. The smaller level has entered a consolidation structure.
Whether it can make a complete and strong breakthrough, as a potential bullish continuation, pay attention to whether the price around 90,000 can hold.
If it is broken with volume, it only indicates that the bulls are not as strong as expected. The price range in the lower vacuum area is relatively large, making it easier for market makers to manipulate, such as classic liquidity raids. Therefore, the main force is more willing to go to a lower position to gather chips. The bulls are lurking around 86,000.
After breaking down, quick action is needed to take profits.
After the big pancake surged, it began to oscillate downward for a callback. The smaller level has entered a consolidation structure.
Whether it can make a complete and strong breakthrough, as a potential bullish continuation, pay attention to whether the price around 90,000 can hold.
If it is broken with volume, it only indicates that the bulls are not as strong as expected. The price range in the lower vacuum area is relatively large, making it easier for market makers to manipulate, such as classic liquidity raids. Therefore, the main force is more willing to go to a lower position to gather chips. The bulls are lurking around 86,000.
After breaking down, quick action is needed to take profits.
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251204 Daily Market Analysis
$BTC
During the day, Bitcoin has started a narrow range of fluctuations at a high level, which is a clear signal of stagnation on a larger scale.
So there are no additional suggestions. Especially in the daily level where a potential W-bottom reversal structure is being formed, it is only recommended to enter on the right side after a stable breakout. Otherwise, priority should be given to handling it with low-level fluctuations.
Next, we will see if Bitcoin can break through and stabilize around the 93,000-94,000 mark, which will play a key role in the continuation of the bullish trend in the market.
In the evening U.S. stock market session, pay attention to the price performance around the 90,000 mark during the pullback. After a halt in the decline, if there is buying support, it is highly likely to shift to consolidation. The longer the consolidation lasts, the greater the opportunity to form a potential bullish continuation structure. Therefore, the position and extent of the pullback are quite important.
During the day, Bitcoin has started a narrow range of fluctuations at a high level, which is a clear signal of stagnation on a larger scale.
So there are no additional suggestions. Especially in the daily level where a potential W-bottom reversal structure is being formed, it is only recommended to enter on the right side after a stable breakout. Otherwise, priority should be given to handling it with low-level fluctuations.
Next, we will see if Bitcoin can break through and stabilize around the 93,000-94,000 mark, which will play a key role in the continuation of the bullish trend in the market.
In the evening U.S. stock market session, pay attention to the price performance around the 90,000 mark during the pullback. After a halt in the decline, if there is buying support, it is highly likely to shift to consolidation. The longer the consolidation lasts, the greater the opportunity to form a potential bullish continuation structure. Therefore, the position and extent of the pullback are quite important.
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This month's impact of the Japanese yen interest rate hike on U.S. stocks and global liquidity raises the question: can Bitcoin once again become a release valve for risk aversion sentiment?
The reversal of carry trades and capital outflows from the yen carry trade is a key transmission channel. Japan has maintained ultra-low interest rates (even negative rates) for a long time, allowing investors to borrow low-cost yen and invest in high-yield U.S. stocks, bonds, or emerging markets, amplifying liquidity in U.S. stocks. In the first half of 2024, Japanese overseas investments bought more than 67 trillion yen, with a significant portion flowing into U.S. stocks. After the interest rate hike, the yen appreciates (the USD/JPY exchange rate falls), the cost of borrowing yen increases, and investors are forced to close positions to avoid liquidation: selling U.S. stock assets and repurchasing yen. This has led to a surge in selling pressure on U.S. stocks and tightening liquidity. At the same time, the U.S.-Japan interest rate differential narrows (Japanese rates rise from 0% to 0.25%, while the Federal Reserve's rates are above 5%), weakening the dollar and further diminishing the attractiveness of U.S. stocks. Quantitative impact: analysis indicates that if the USD/JPY falls from 150 to 130, closing carry trades could trigger a 10%-20% adjustment in U.S. stocks.
$BTC
The reversal of carry trades and capital outflows from the yen carry trade is a key transmission channel. Japan has maintained ultra-low interest rates (even negative rates) for a long time, allowing investors to borrow low-cost yen and invest in high-yield U.S. stocks, bonds, or emerging markets, amplifying liquidity in U.S. stocks. In the first half of 2024, Japanese overseas investments bought more than 67 trillion yen, with a significant portion flowing into U.S. stocks. After the interest rate hike, the yen appreciates (the USD/JPY exchange rate falls), the cost of borrowing yen increases, and investors are forced to close positions to avoid liquidation: selling U.S. stock assets and repurchasing yen. This has led to a surge in selling pressure on U.S. stocks and tightening liquidity. At the same time, the U.S.-Japan interest rate differential narrows (Japanese rates rise from 0% to 0.25%, while the Federal Reserve's rates are above 5%), weakening the dollar and further diminishing the attractiveness of U.S. stocks. Quantitative impact: analysis indicates that if the USD/JPY falls from 150 to 130, closing carry trades could trigger a 10%-20% adjustment in U.S. stocks.
$BTC
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9:30 PM. Small non-farm data released. Little impact on this month's interest rate cut expectations. There may be spikes at lower levels, it is recommended to avoid.
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251203 Daily Market Analysis - Wide Range Consolidation
$BTC
The pancake, after completing the downward test again, starts a small-scale violent rebound.
The hourly level is establishing a new bullish framework, as the market seems to return to the rhythm of [bull return].
The bullish strength during the day has not been sustained, shifting to a narrow range oscillation. The current position is at the upper edge of a large-scale wide range oscillation, suitable for reducing bullish positions in hand. Be cautious about aggressively chasing more.
As it is near the upper edge of a wide-ranging consolidation structure, there is selling pressure in the potential selling area. Small-level pullbacks can attempt to catch a segment of bullish rebound, aiming for a continuation of the bullish rebound.
During the evening U.S. stock market session, pay attention to small-level pullback positions, especially the price performance around 8w8.
The pancake, after completing the downward test again, starts a small-scale violent rebound.
The hourly level is establishing a new bullish framework, as the market seems to return to the rhythm of [bull return].
The bullish strength during the day has not been sustained, shifting to a narrow range oscillation. The current position is at the upper edge of a large-scale wide range oscillation, suitable for reducing bullish positions in hand. Be cautious about aggressively chasing more.
As it is near the upper edge of a wide-ranging consolidation structure, there is selling pressure in the potential selling area. Small-level pullbacks can attempt to catch a segment of bullish rebound, aiming for a continuation of the bullish rebound.
During the evening U.S. stock market session, pay attention to small-level pullback positions, especially the price performance around 8w8.
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The blue area of the rainbow chart
is the "Special Sale" area.
$BTC
is the "Special Sale" area.
$BTC
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251202 Daily Market Analysis
$BTC
Bitcoin continues to decline during U.S. stock market hours. The smaller levels continue to fall without rising, and the rebound only starts after the afternoon session.
Slight rebound during the day. Back to the support and resistance level of the previous fluctuation range around 8w6.
Daily level wide fluctuation expectation, consolidation range 9w3-8w.
Hourly level rebound focuses on the price performance around 905. If the rebound fails to hold, the downward fluctuation will continue, and this will also apply to the 4H level's downward fluctuation, with a second retracement. Observe the price performance around 8w1 below and consider trying to catch a long position.
In the evening, focus on the rebound pressure test at 9w1. If the rebound test fails to hold, short positions can be set up around this level.
Bitcoin continues to decline during U.S. stock market hours. The smaller levels continue to fall without rising, and the rebound only starts after the afternoon session.
Slight rebound during the day. Back to the support and resistance level of the previous fluctuation range around 8w6.
Daily level wide fluctuation expectation, consolidation range 9w3-8w.
Hourly level rebound focuses on the price performance around 905. If the rebound fails to hold, the downward fluctuation will continue, and this will also apply to the 4H level's downward fluctuation, with a second retracement. Observe the price performance around 8w1 below and consider trying to catch a long position.
In the evening, focus on the rebound pressure test at 9w1. If the rebound test fails to hold, short positions can be set up around this level.
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251201 Daily Market Analysis - Opening Thunder Strike
$BTC
After the big coin closed the weekly and monthly lines, it slightly dropped first after the opening of the U.S. stock futures in the morning. Subsequently, the market began to decline rapidly with increased volume.
The weekend's shrinking rebound, at the tail end of the sideways fluctuation, ultimately leads to the large-scale rebound's upward channel being broken with volume. Overall, it is quite in line with last week's bearish flag expectation.
Since the choice is to break downwards, and there is no obvious bullish force intervening during the day. Especially under the premise of weakness during the Asian and European sessions.
After breaking below 90,000, the 4-hour level rebound ends, and the subsequent treatment is to regard it as a low-level consolidation structure. Pay attention to the price performance at previous low points.
After the big coin closed the weekly and monthly lines, it slightly dropped first after the opening of the U.S. stock futures in the morning. Subsequently, the market began to decline rapidly with increased volume.
The weekend's shrinking rebound, at the tail end of the sideways fluctuation, ultimately leads to the large-scale rebound's upward channel being broken with volume. Overall, it is quite in line with last week's bearish flag expectation.
Since the choice is to break downwards, and there is no obvious bullish force intervening during the day. Especially under the premise of weakness during the Asian and European sessions.
After breaking below 90,000, the 4-hour level rebound ends, and the subsequent treatment is to regard it as a low-level consolidation structure. Pay attention to the price performance at previous low points.
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251130 Daily Market Analysis - The Bid Must Be Matured
$BTC
First, let's review last week. After completing the 80,000 test, Bitcoin's weekly level experienced a 10% rebound. The strength and rhythm of the rebound can only be described as sluggish.
The good news is that after the weekly close tomorrow morning, we are about to welcome a bullish engulfing pattern, which signifies a rebound after a downtrend.
In the future, with the interest rate meeting in December approaching, I hope Bitcoin can bounce higher.
The inflow into ETFs has finally decreased significantly from a week of massive outflows, and there is now a net inflow. This is another good thing for a market with scarce liquidity.
The open interest in the futures market has significantly decreased as prices rebounded. This is largely due to the liquidation of most long positions and the reduction of short positions.
First, let's review last week. After completing the 80,000 test, Bitcoin's weekly level experienced a 10% rebound. The strength and rhythm of the rebound can only be described as sluggish.
The good news is that after the weekly close tomorrow morning, we are about to welcome a bullish engulfing pattern, which signifies a rebound after a downtrend.
In the future, with the interest rate meeting in December approaching, I hope Bitcoin can bounce higher.
The inflow into ETFs has finally decreased significantly from a week of massive outflows, and there is now a net inflow. This is another good thing for a market with scarce liquidity.
The open interest in the futures market has significantly decreased as prices rebounded. This is largely due to the liquidation of most long positions and the reduction of short positions.
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251127 Daily Market Analysis - Short Squeeze Reappears
$BTC
The U.S. stock market has violently rebounded, showing a short squeeze trend again. Bitcoin continues to follow the U.S. stock market upward. The rebound magnitude is still somewhat far compared to the U.S. stock market.
The good news is that the hourly bullish framework continues and has stabilized above 89,000. The rebound of the dispute is running along the upward channel.
The current position is cautious about pursuing more. Pay attention to whether it synchronizes with the U.S. stock market for a pullback in the evening. If it stabilizes around 89,000, then the rebound of the dispute has not yet completed. Consequently, the large-scale rebound continues to extend.
The small-scale rebound is once again significantly lagging behind. The current position has touched the short side, so one can only exchange narrow stop losses for a high risk-reward ratio. Therefore, it is essential to maintain good stop losses, work in segments, and take bites one at a time.
The U.S. stock market has violently rebounded, showing a short squeeze trend again. Bitcoin continues to follow the U.S. stock market upward. The rebound magnitude is still somewhat far compared to the U.S. stock market.
The good news is that the hourly bullish framework continues and has stabilized above 89,000. The rebound of the dispute is running along the upward channel.
The current position is cautious about pursuing more. Pay attention to whether it synchronizes with the U.S. stock market for a pullback in the evening. If it stabilizes around 89,000, then the rebound of the dispute has not yet completed. Consequently, the large-scale rebound continues to extend.
The small-scale rebound is once again significantly lagging behind. The current position has touched the short side, so one can only exchange narrow stop losses for a high risk-reward ratio. Therefore, it is essential to maintain good stop losses, work in segments, and take bites one at a time.
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251125 Daily Market Analysis
$BTC
Bitcoin follows the U.S. stock market for an oversold rebound. The small level has produced a five-wave three-segment rebound.
If the high point 8w9 completes a false breakout at the major support and resistance level, then the small level rebound begins to trend weak. Pay attention to the pullback around 855 in the evening. If it follows the U.S. stock market to adjust downwards, then this 4H level will end, and we will look for a consolidation downward.
There is no advice to chase highs at the small level, and the large level has not yet completed a reversal. The bullish rebound may encounter renewed bearish pressure at any time. Therefore, low bullish positions do not require a pattern.
In the evening, pay attention to whether the upward breakout can stabilize above 8w9. The small level bullish extension can only continue if the rebound looks towards higher levels.
Bitcoin follows the U.S. stock market for an oversold rebound. The small level has produced a five-wave three-segment rebound.
If the high point 8w9 completes a false breakout at the major support and resistance level, then the small level rebound begins to trend weak. Pay attention to the pullback around 855 in the evening. If it follows the U.S. stock market to adjust downwards, then this 4H level will end, and we will look for a consolidation downward.
There is no advice to chase highs at the small level, and the large level has not yet completed a reversal. The bullish rebound may encounter renewed bearish pressure at any time. Therefore, low bullish positions do not require a pattern.
In the evening, pay attention to whether the upward breakout can stabilize above 8w9. The small level bullish extension can only continue if the rebound looks towards higher levels.
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251124 Daily Market Analysis
$BTC
During the decline last week, the changes in fees clearly indicated that the sentiment for buying low was quite strong.
The obvious change in open interest shows that shorts are gradually starting to reduce their positions.
With the weak rebound of Bitcoin, many short positions began to actively "chase shorts", either to continue to add to short positions for further declines or to add fuel in advance for subsequent rebounds. We need to proceed cautiously.
First, look at the weekly level; Bitcoin maintained at 87,000 last week. Liquidity began to enter from 80,000, along with some reduction in short positions. The downward momentum is starting to encounter resistance. With the expectation of interest rate cuts rising, market sentiment has also slightly eased.
During the decline last week, the changes in fees clearly indicated that the sentiment for buying low was quite strong.
The obvious change in open interest shows that shorts are gradually starting to reduce their positions.
With the weak rebound of Bitcoin, many short positions began to actively "chase shorts", either to continue to add to short positions for further declines or to add fuel in advance for subsequent rebounds. We need to proceed cautiously.
First, look at the weekly level; Bitcoin maintained at 87,000 last week. Liquidity began to enter from 80,000, along with some reduction in short positions. The downward momentum is starting to encounter resistance. With the expectation of interest rate cuts rising, market sentiment has also slightly eased.
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251123 Daily Market Analysis - Rebound is not a reversal
$BTC
Bitcoin has seen four consecutive weeks of decline, and Friday's U.S. stock market continued to drag down the cryptocurrency sector.
Until the New York Federal Reserve Chairman released dovish news [possible rate cuts in December], a massive buying spree in the U.S. stock market surged in, leading to significant price action in Bitcoin, gradually moving out of the downturn.
After experiencing a weekend rebound with reduced volume, market sentiment is gradually emerging from extreme panic, ushering in a minor upward rebound.
In the evening until tomorrow's pre-market, pay attention to the price performance around the rebound at 90,000. Especially noticeable is the current rebound with significantly reduced volume. Short sellers are closing positions, resulting in an oversold rebound on an hourly basis. If the rebound fails to test higher, continue to treat it with a bearish outlook.
Bitcoin has seen four consecutive weeks of decline, and Friday's U.S. stock market continued to drag down the cryptocurrency sector.
Until the New York Federal Reserve Chairman released dovish news [possible rate cuts in December], a massive buying spree in the U.S. stock market surged in, leading to significant price action in Bitcoin, gradually moving out of the downturn.
After experiencing a weekend rebound with reduced volume, market sentiment is gradually emerging from extreme panic, ushering in a minor upward rebound.
In the evening until tomorrow's pre-market, pay attention to the price performance around the rebound at 90,000. Especially noticeable is the current rebound with significantly reduced volume. Short sellers are closing positions, resulting in an oversold rebound on an hourly basis. If the rebound fails to test higher, continue to treat it with a bearish outlook.
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