Wednesday, Week 6.2 BTC Morning Outlook

Morning Bitcoin current price $71,200‑$71,600, overall bearish dominance, firmly bearish downward trend, rebound in the market is purely a trap to induce buying and shake out traders.
Technical analysis on the 4-hour timeframe, moving averages are in a bearish alignment, price remains under short-term moving averages, Bollinger Bands are opening downward; MACD bearish momentum continues to be released and has not exhausted, RSI oversold is only a short-term weak correction, rebound volume is severely lacking.
A strong resistance zone forms at $73,800‑$74,200, rebounds to this level are very likely to face resistance and fall back, unable to break through effectively.
Support at $72,500‑$72,700 is precarious, once volume increases and it breaks down, the bears will accelerate downward toward $72,000, opening a new round of downside space.

In terms of capital, spot ETF continues to see large outflows, institutions are avoiding risk and exiting; the futures market longs are continuously liquidated, selling pressure persists, buying support is extremely weak, and market sentiment is bearish.

Market rhythm continues to oscillate within a range, with rapid switching between long and short positions, almost immediately switching from long to short and vice versa.
In the short term, focus on high rebounds to short, relying on upper resistance to layout short positions, firmly bearish on the continuation of the downward trend.
Trading suggestion: watch for a range of 715-720, target 705-700$BTC $ETH