$BTC Bitcoin's price has sharply declined by 3,000 points over the past 24 hours

Previously, it oscillated and rebounded for four consecutive weeks, with no significant volume
Trading volume is insufficient, and upward momentum is weak
Weekly chart shows decreasing volume with rising prices, volume-price divergence, indicating insufficient bullish strength
The daily chart forms a bearish engulfing pattern, a clear bearish signal
The 6-hour upward trend line has been effectively broken
Currently, the rebound tested the resistance after breaking support, confirming a bearish structure
Repeated false breakouts at high levels, followed by quick pullbacks
Core support is at 76,000; a break below will trigger a sharp decline
Bullish premise: hold above 76,000
Breaking this key level will invalidate the bullish logic completely
Tending towards a downward 5-wave decline (waves 1-5)
The current position is at the end of the rebound, with medium-term short positions
Focus on the press conference at 2:30 PM this afternoon.