BTC’s weekly candlestick last week closed with a long lower shadow and relatively low volume. This week, BTC continues to hold a large bearish candle structure, having already fallen below the previous low of 74,200. The current key resistance area is 75,300-76,300 (FVG gap), and 77,300-78,300 (position/chip concentration zone). Only if it breaks through and holds above these levels can the weekly trend potentially turn stronger again. The core support below is around 72,000 (uptrend line + 0.618 retracement). At present, the key focus is on whether the 72,000 uptrend line support holds. If it breaks below the lower boundary of the ascending channel, the weekly structure will turn bearish.

There are signs that upside momentum is weakening in MACD, RSI, and CCI. On the daily chart, there is a lower shadow with signs of a possible stop to the selloff, but on the daily timeframe the bears maintain an advantage in volume with three consecutive bearish candles. The key resistance level above is 75,300-76,300 (FVG gap). The key support below is 72,000 (previous low + lower boundary support). As long as the price does not break below these key levels, it still belongs to the operation of a large-scale uptrend channel; if it breaks, it will evolve into a falling flag pattern.

On the daily chart, the MACD and RSI form downward death crosses, and the bearish structure remains dominant. For the short term, pay attention to the 4-hour timeframe—short-term opportunities will be taken when the timing is right.