Bitcoin Market Analysis (Will the Range Soon Reverse and Drop to 40K?) ##比特币

Figure 1: The key point to watch is Bitcoin's trend reversal. At this moment, the price at point 1 is in the middle of the range, aligned with the midline. In smaller timeframes, be cautious of false breakouts and trap moves. However, the main focus should be on the larger timeframe range. As previously mentioned, the market is in a downtrend, and the large-scale bearish trend has not yet completed, so even if there is a rebound, it is just a correction within the downtrend.
Figure 2: Currently, the price is at point 1. If the 90-minute timeframe cannot sustain a valid rebound, then the upward bounce is considered failed, and traders should look for shorting opportunities. Be aware of whether the smaller timeframes will experience a bottoming out and sideways movement.
Figure 3: At this moment, the price is undergoing a 90-minute correction, and the market remains within the downward channel. The key point now is whether the 15-minute timeframe can form an effective rebound to trigger a trend reversal. For timeframes within 1 hour, the market is in a bearish state, so consider shorting near the resistance around 66,705. Long positions should be avoided for now unless the market consolidates at high levels and forms a small timeframe pattern indicating a potential reversal. Otherwise, be cautious of false breakouts leading to further declines.