The nighttime BTC trading rhythm has gradually shifted from high-level consolidation to a relatively weak pullback. The market has been correcting downward overall since around the 76,000 area. During the process, although there have been rebounds, they have never formed an effective continuation; instead, the highs keep moving lower, indicating that the sell pressure above is gradually strengthening. The consolidation around the 75,000 area has not provided support; instead, after breaking below it, it drove a wave of accelerated downside, with the low touching around 73,700. During this period, although there was some technical rebound, it still failed to reclaim the key suppression zone. At present, the market remains range-bound around 74,000; fundamentally, this is still a repair within a down move rather than a trend reversal.

From the state of the order book, this round of decline has structural support, rather than being purely random fluctuation. On the 4-hour timeframe, the price has already broken below the midpoint of the prior consolidation range; the trading center of gravity has clearly shifted downward. Meanwhile, short-period moving averages are beginning to turn downward, putting pressure on the price and showing that medium-term momentum is weakening. On the 1-hour timeframe, it can be seen that every rebound into the 74,500–74,800 area meets resistance and then pulls back. This area has formed a relatively clear resistance zone, and the 75,000 level is an even stronger line of demarcation. Until the price reclaims and holds above it, it will be difficult for the bulls to regain control of the pace. Looking lower, the 73,700 level is only a short-term stop-the-bleed point and does not have strong support characteristics. Once it is tested again and breaks, it can easily trigger further downside, with room potentially extending toward around 73,000. Overall, the current trend and structure are consistently bearish; there are no obvious signs of a bottoming out or a reversal pattern. Therefore, in terms of execution, you should trade in line with the trend by going short. #GatePreIPOs首发SpaceX