Many people see prices moving sideways at low levels and assume, subjectively, that a counterattack is about to start. But if you take a closer look at the one-hour and four-hour charts, you’ll find that multiple attempts to probe upward failed to achieve any effective breakout. The rebound momentum is clearly losing steam, and the bulls’ offensive follow-through is severely lacking. Intraday, it’s more suitable to set up short positions in line with the market’s weakness.
One-hour chart logic

After several pushes higher in the short term, the price still can’t hold above the overhead resistance area. Each time it rises, heavy selling pressure quickly knocks it back down. The short-term moving averages are gradually turning downward and suppressing the candlesticks. Within the trading range, the swing highs keep getting lower—this is a very typical sign of weakness. The repeated consolidation at low levels isn’t bottoming and reversal; it’s more like a brief pause in the middle of a decline. Bearish power is building up again, and the area around the current price is a good spot for a short-term short.