Evening Bitcoin Market Outlook

This round of decline is a deep retracement on the daily chart. The hourly MACD continues to operate below the zero line, indicating that bearish momentum has intensified, and the downward trend level has directly upgraded.
Currently, the price has reached the last defensive zone for the bulls: 74523‑73712. If clear signs of a bottoming signal appear within this range, consider light long positions;
• Once the price effectively breaks below this range, switch directly from long to short, abandoning the bottom-fishing strategy;
• If there is no bottoming signal and the price breaks through, only focus on oversold rebounds in the future, and do not look for a trend reversal to the upside.
If this zone is lost, it indicates that the bullish trend on the 4-hour and longer cycles has been completely terminated, and this upward movement is over.
If the price stabilizes and rebounds within the 74523‑73172 range, as long as it cannot break through the key resistance at 75620, it will still test the previous low at 74200 a second time; once the support zone is broken, a deeper correction will just be beginning, and what we see now is only the appetizer for the decline.
Trading suggestions:
• Break through 74734 with volume, follow up on short-term rebounds, target 75618‑76101, but if the price fails to stabilize at this level, the rebound will lack sustainability;
• Break below 74214 with volume and fail to recover on a rebound, follow the trend and short, strictly with stop-loss;
• On the 4-hour chart, break below 74332, with the downside target at 73262‑71721.