#BTC跌破关键位 This morning, the market continued its downward trend, with a large bearish candle breaking through key support levels. The previous critical support at 72,889 for Bitcoin was lost, but the 70,000 level remains a strong support. The weak market sentiment further deepened, and the bullish rebound momentum remains sluggish.
From a four-hour chart analysis, the price repeatedly tested the middle band of the Bollinger Bands and was met with resistance, pulling back each time. The rebound is defined as a technical correction and has not fundamentally reversed the overall downtrend. The three Bollinger Bands are converging downward simultaneously, indicating that market volatility is narrowing, and the bearish force is accumulating with a clear downward direction.
The one-hour chart confirms the bearish structure a second time: after a brief rebound, the price quickly broke below the middle Bollinger Band support, which continues to move downward, forming dynamic resistance. The rebound resistance levels are clearly visible. On the technical indicators side, the KDJ indicator briefly formed a golden cross for a correction but then again formed a death cross, confirming that rebound momentum is severely lacking. The MACD lines, after converging below the zero line, are diverging downward, forming a new death cross, indicating that bearish momentum is accelerating.
Based on multi-timeframe analysis, the current market is operating within a downward channel, with rebound strength gradually diminishing and the price structure's center of gravity continuously shifting downward. The morning trading strategy suggests continuing to focus on short positions from higher levels, targeting key resistance levels to enter short trades. Strict position management and stop-loss measures are essential.
Currently, there are no clear signals of a bottoming or stabilization. It is strictly prohibited to preemptively buy the dip or predict the bottom. Overall, trading should follow the trend with a defensive approach, patiently waiting for downward momentum to fully release.
Bitcoin: Short positions are recommended in the 76,500-77,000 range, with a target of 75,000.
Strategy for reference only!!!
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