June 1st $BTC Afternoon Analysis

The market has experienced several swings in the morning, currently trading at 73,400.0. The price has been weakening since the intraday high of 74,179.0, with a decline of 0.97%, and funds are slightly flowing out. The previous high-volatility pattern has been broken, and the bearish forces are regaining dominance, further confirming the short-term downtrend.
Bollinger middle band at 73,693.9, upper band at 74,048.2, lower band at 73,339.6. The price has effectively broken below the Bollinger middle band support, forming a strong resistance zone above, and the downward space is further opened.
The short-term MA10 and MA20 moving averages are both turning downward simultaneously, creating a stepwise resistance; the medium- and long-term MA89 moving average resonates with the Bollinger middle band, forming a core resistance zone, and the price rebound will face multiple resistances.
DIF and DEA double lines are operating below the zero axis, with bearish energy bars continuing to expand, and downward momentum remains sufficient. It is difficult to see a trend reversal signal in the short term.
Indicators have entered the oversold zone, indicating a technical minor correction is needed, but under the bearish trend suppression, the rebound strength is limited, only a short-term weak retracement. Currently, the market is simply giving everyone a chance to buy low, trading within the range. I personally suggest that until the price breaks above 74,300, any rebound is a false signal, with a range around 74,200-74,880, targeting 73,000-72,500.