Bitcoin’s current price is 59,700. In the short term, the market’s rise and fall is erratic—when there’s a rebound wave, some people immediately shout that the bull market is back. But then, without warning, it dips with a sharp wick, and everyone panics and scrambles to cut losses. At present, the 59,700 level sits at the dividing line between bulls and bears. In the short term, long positions are only suitable for small size—enter quickly and exit quickly. Never linger and hold for a long-term trade. Many people lose money due to greed: once they reach their target price, they refuse to leave, and in the end, the profits turn into losses. Futures/contract trading positions must be strictly controlled. If the preset entry level is not reached, firmly observe and wait. It’s better to miss a market move than to blindly enter and step into a trap. For short-term small gains, discipline is key; big losses mostly come from a mindset of wishful thinking and luck.

On the daily timeframe, the single-day drop is 6.44%. The entire market probed down to the low point of 59,080. Price has broken through EMA15/30/60 moving averages across the full cycle, and all moving averages have turned downward to form a “southbound” suppressing pressure band. Overhead short-term resistance lies in the 70,222 and 73,144 range. The Bollinger Bands continue to open downward. The current price has broken through the Bollinger lower band at 62,807 and is trading in an oversold region below the lower band. The daily MACD is below the zero axis; both the DIF and DEA lines slope downward. The green histogram bars continue to expand in volume, indicating the downtrend on the larger timeframe is clear. There are no signals of a bottoming out or stabilization. The “southbound” situation on the larger timeframe firmly dominates. Even if a rebound appears in the short term, it is likely just a technical correction and is difficult to directly reverse the downtrend structure.

On the 4-hour timeframe, the candlesticks are consistently capped by all EMA moving averages. The 15/30 short-term moving averages at 63,468 and 65,999 have become strong short-term resistance. The Bollinger Bands are opening significantly downward. The current price is trading close to the lower band, around 59,929, and the indicators have entered an extreme oversold zone. The 4-hour MACD remains in a dead cross below the zero axis. Although the green bars have shrunk slightly, the fast and slow lines are still diverging downward. Downward momentum has been slowed, but it has not reversed. Judging from the candlestick arrangement: after consecutive large bearish candles land, price is consolidating slightly in a low-range. In the short term, there is a need for an oversold rebound, but the moving-average layout—aligned in a “southbound” direction—limits the rebound height. The rebound is more likely to be primarily a range-bound correction/repair, making it difficult to change the medium-term downtrend.

Short-term trading mindset reference: Follow the larger timeframe trend—small stop-losses, quick entries and quick exits.

From below, go north/rise between 59,000 to 58,500, with a stop-loss at 58,000. Targets are 60,000 to 61,500.

From above, go south/fall between 63,000 to 63,500, with a stop-loss at 64,000. Targets are 61,500 to 60,000.

Specific execution should be based mainly on real-time order book data. For more information, please refer to the author’s posts. Since the article has a publication delay, the suggestions are for reference only—risk is your own. $BTC ‌#预测NBA总冠军赢20,000U

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