Bitcoin: Fading the Bounce as Bearish Momentum Persists

The Setup: Shorting a Rally in a Bearish Market

My focus today is on BTC/USD, which is currently hovering around 81121. We’ve seen a 24-hour change of nearly -0.88%, reinforcing the underlying bearish trend. Despite the price trading within its daily range of 79498.58 to 82743.42, I'm eyeing a short entry on a retest of a key resistance area. Often, in a strong downtrend, a brief rally draws in late buyers, creating