Daily Market Analysis — BTC

From the weekly K-line perspective, the price is at the point of retesting the neckline of the W bottom, which still acts as support on a smaller timeframe, allowing for a normal view of lower levels for long-term and short-term trading. But due to the overall downward pressure, upward expectations are minimal, so don’t be greedy.
Looking at the daily chart, after two rebounds to the MA30 on this level, the price is in a sideways consolidation range, which acts as a continuation structure for the decline. Combined with the support from the weekly chart pattern, the fluctuation range at this level is compressed within 2%, so chasing the rally is not advisable. Patience is needed until the price retests the lower boundary of the range or slightly breaks through the support.
From the 4H to 12H chart, the mid-term is still in a contraction phase of the bullish and bearish structure. The price’s center of gravity and moving averages are diverging further downward, with support around the original control line (75,180) still holding, but only for active traders monitoring in real-time. New orders should wait until the price approaches the low point near 23,000 before considering.
From the 1H and lower timeframes, the candlestick patterns have not formed effective buy signals, and the moving average system is also predominantly bearish divergence. Yesterday’s chips gained at the lows were actively taken profit on their own, and new chips will wait for increased volatility before entering.
Summary: The weekly neckline support and the daily moving average system convergence compress the price fluctuation space within a 2% radius. Combining the weekly neckline’s low-mult and short-term high-throwing strategies based on daily suppression is a necessary preparation.
Aggressive support: 75,440–75,180 (slow decline, quick entry and exit, valid for 6H)
Short-term support: 74,411–73,535 (1:2 quick entry and exit)
Short-term resistance: 76,433–77,190 (monitor for reference, no action)
68,500 is a major long-term support zone. This area can be held by idle funds long-term (support and the ability to reach are two different things; 68,500 is support, not Sugar’s bearish view on BTC at 68,500)! #BTC