Early morning bears strike again, with Bitcoin volume surging down to the 65,500 level. Subsequently, a phased support entered the market, and the price quickly stabilized and rebounded. Currently, it is consolidating around 66,500, and the trend is fully in line with our expectations.



From the current market situation, the weekend is expected to be mainly volatile, with bears dominating. The highs and lows are gradually moving downward, daily candles are closing with negative momentum, and the price has broken below the mid-line support. All indicators show a bearish alignment and diverge downward, indicating a clear downtrend. On the four-hour chart, after a brief rally, the price continues to weaken, with bearish candles pulling back and causing the Bollinger Bands to open downward. After an early dip, market selling pressure was released in bulk, and the bullish rebound lacked volume, representing only a minor technical correction and unlikely to reverse the overall weak trend. Future trading will continue to follow a high-short strategy, paying attention to the continuation of the downward momentum.

Bitcoin rebounds around 67,300-68,100, with support at 65,800-64,300. If broken, the next support is at 63,000.
Altcoins rebound around 1,980-2,030, with support at 1,900-1,800.
BTC1,49%
ETH3,23%
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
  • Pin