Bitcoin daily bearish arrangement, currently showing a slow decline, not a sharp drop

There is no quick pin insertion confirming a bottom in the market, and the resistance level offers a higher cost-effectiveness for short positions. If there is a sudden sharp drop with a pin insertion, it may instead attract bottom-fishing funds to enter the market. Currently, the consolidation upward lacks volume support, and the buying interest continues to diminish, which is not a healthy upward continuation!

No obvious bullish divergence is seen during the price decline, and the CVD fund line shows no signs of reversal. Only retail investors are slightly bottom-fishing, lacking strong rebound momentum!

Funding rates continue to rise, with longs constantly increasing leverage to bet on a rebound. Once key support is broken, a large number of longs will be forced to stop-loss, accelerating the decline. US stocks, especially tech stocks in the Nasdaq, are weakening, with increased short volume and fading upward momentum.

Previously, BTC could oscillate at high levels relying on the global stock market rally, but now losing external support, the bullish momentum is completely gone. In the short term, expect a slow weak decline with no bottom reversal signals. Focus on the 75,000 support; if broken, a deep correction is likely to begin. Watch the 75,000 support below; if broken, look at 70,000.