BTC Bitcoin faces obvious resistance at high levels, with a comprehensive weakening in technical indicators, and a firm short-term bearish outlook.



Prices repeatedly encounter resistance near previous highs before surging, with upward momentum continuously waning, gradually forming a top pattern. The daily and short-term moving averages are both turning downward, with indicators showing a death cross at high levels, and serious divergence between volume and price, resulting in weak rebounds that fail to sustain, overall entering a phase of decline and adjustment.

Currently, overhead resistance in the market is heavy, and each rebound is a trap for short-term traders to repair positions; high-level chasing is not recommended. Trading should focus on shorting during rebounds, following the bearish trend.

Trading suggestions

Enter short positions around 76,500-77,000, with a target of 75,000-74,000, and a continuation if broken; defensive positions should be based on your own holdings.
$BTC $ETH
BTC-0.67%
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