Weak downward trend, the upward structure comes to an end

BTC has recently maintained a high-level consolidation trend, with the price repeatedly encountering resistance and falling back during upward attempts. The highs are gradually declining, and the overall upward momentum continues to weaken. The bullish strength is gradually dissipating, market selling pressure is increasingly evident, and the short-term trend has shifted to a weak state, showing clear signs of a correction.

On the technical side, BTC's short-term trend is under significant pressure, with multiple short-term moving averages forming downward resistance. The price has consistently remained below the moving averages. Meanwhile, various oscillators are weakening simultaneously, signaling a clear bearish signal. Key support levels are at risk, and the overall technical pattern leans toward a bearish outlook, with a high probability of further decline.

Enter a short position directly around the current price of 75,800, with a stop-loss set at 76,500. The first target below is 75,000, and the second target is 73,500. Maintain a light position throughout the trade, strictly adhere to stop-loss rules, and avoid blindly holding onto positions. $BTC