Bitcoin Auntie Afternoon Analysis

On the 4-hour chart, there have been two attempts to test 72,800 but both failed to hold, with long upper shadows forming consecutively, indicating heavy selling pressure at this level and weak buying support. The candlestick pattern shows a clear sequence of consecutive declines, with bearish momentum steadily increasing. The downward trend continues strongly, with no signs of a reversal in the short term.

Looking at the 15-minute timeframe, the price remains below the middle band of the Bollinger Bands, continuously drifting downward along the lower band, with the bands opening downward and diverging. Bearish momentum is being released in a stepwise fashion. Each rebound is very weak, and after a brief pause, new lows are made again. This pattern essentially rules out the possibility of a reversal.

In summary, whether considering the larger cycle's resistance confirmation or the smaller cycle's weak performance, both point to the same conclusion: the bears have taken absolute control. Any subsequent rebound should be viewed as a good opportunity to short the trend, and one should not attempt to catch the bottom during brief pauses. The market is likely to continue downward in the short term, so patience and waiting for signs of exhaustion in the rebound are recommended. $BTC ‌$ETH #加密市场小幅下跌 #Gate广场四月发帖挑战 #Canary提交现货PEPEET申请