Bitcoin hits a new low, beware of incoming risks!

This round of market movement sees the weekly chart experiencing its first consecutive deep decline, and it is also the first substantial retracement in this upward trend.

Previous adjustments mostly involved sideways fluctuations instead of declines, providing no effective space for pullback, but this time, a forceful correction has occurred. A trend reversal always requires a combination of strength and time; currently, the downward momentum has been fully released. The market is likely to enter a phase of weak consolidation and bottoming, using time to trade space and continue digesting bearish energy. The overall macro structure remains in a weak phase.

Until the weekly consecutive decline pattern is effectively broken, the overall setup remains bearish, with the market continuously building momentum and still having potential to break lower.

Switching to the short-term four-hour structure, the market shows alternating battles between bulls and bears, with prices steadily moving within the downward channel. The chart frequently shows small bullish candles with long upper shadows, a typical sign of insufficient buying support and weak market liquidity. Without fundamental positive catalysts, all rebounds are weak and belong to a weak correction phase.

On the hourly chart, after testing the middle Bollinger Band, prices temporarily stabilize, with small bullish candles gradually rising to probe resistance. The key resistance level is around 74,500, and the focus is on whether it can be effectively broken and held.

The main trend remains bearish, with only minor short-term corrections possible. The trading strategy should primarily focus on shorting at higher levels and taking small long positions on dips. Do not turn bullish unless key resistance is broken. Intraday, it is recommended to short between 73,700 and 74,200, with a stop at 75,000, targeting 72,500 and 71,500. #成长值抽奖赢金条