BTC is clearly under heavy pressure at high levels, with technical indicators weakening across the board, and the short-term outlook firmly bearish.


The price repeatedly hits resistance near previous highs, with upward momentum steadily fading and a top pattern gradually forming. Daily and short-term moving averages are turning down, indicators show a high-level death cross, volume and price are diverging significantly, and rebounds lack strength to continue. Overall, the market is entering a pullback and adjustment phase.
Currently, there is heavy resistance above, and every rebound looks like a bull trap repair. It's not recommended to chase longs at high levels. The strategy is mainly to short on rebounds and follow the bearish trend.
Trading suggestion:
Place short positions around 76500-77000, targeting 75000-74000 if the breakdown continues. Set stop-losses according to your own position size.
$BTC $BTC
BTC1.56%
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