After the opening of the US stock market, the price of BTC has been on a downward trend, while the performance of the US stock market itself is quite good. Even with the Fed announcing a rate cut of 25 basis points and preparing to halt balance sheet reduction in December, it has not stopped Bitcoin's decline. I checked some data and information and did not find any unfavorable information. The first thought is that US stocks, especially technology stocks, are absorbing more Liquidity. The weekly chart shows a "two bearish lines sandwiching one bullish line" pattern (the weekly chart has not closed yet), and the middle band of the Bollinger Bands has been breached. If it cannot return to 113,800, the weekly chart may head towards the lower band at 104,000 for a retest. If it cannot reclaim 113,800, on the daily chart, there is a large bearish line with higher trade volumes, and three "crows" (three consecutive bearish lines) have formed intraday, indicating a weak short-term signal. It has broken below the ascending channel and the neck line of the W bottom. At the short-term level, focus on the 4-hour chart, looking for short-term opportunities. In terms of data, the price has dipped but the Turnover Rate has not increased, indicating that the sentiment has not worsened. Mainly, short-term funds are adjusting, while long-term holders remain stable. The current structural support is still solid. If the upcoming technology stock earnings reports perform strongly, it may drive a market Rebound, and BTC may also welcome a recovery trend $BTC .