The current Bitcoin market shows a complex trend. From the daily chart perspective, the 5-day and 10-day moving averages are in a downward trend, and both the TRIX and KDJ indicators have formed a death cross, indicating that the medium to long-term is still in a downward channel. Although the J line has entered the oversold area and shows signs of stabilization, the MACD indicator still shows that short positions dominate.

However, there may be a rebound demand in the market in the short term. The hourly chart shows that the Bitcoin price is fluctuating within a narrow range around $3313. The KDJ indicator has formed a low-level golden cross from a severely oversold state, and the auxiliary indicators also show an upward turning trend. Although the MACD fast and slow lines are still crossing below the zero axis, the short positions' momentum has weakened, which may indicate the arrival of a short-term rebound.

Based on the current market conditions, investors may consider the following strategies: pay attention to short-term rebound opportunities that may arise, while remaining vigilant not to overlook the impact of the overall downward trend. In terms of operations, one can look for suitable positions to continue shorting during the rebound process. However, the market is ever-changing, and investors should closely monitor the changes in various technical indicators, adjust strategies promptly, and manage risks.

It is worth noting that the cryptocurrency market is highly volatile. When developing trading strategies, investors should take into account not only technical analysis but also various factors such as macroeconomic conditions and regulatory policies, to ensure the comprehensiveness and accuracy of their investment decisions.