⭐ BTC Today's Market Update

Bitcoin, after breaking below 62,800, the selling pressure in the market continues to increase, and the short-term rebound strength is insufficient, so further downward movement should be watched. Today, the overall trend remains weak and volatile, with no clear signs of a bottoming out. On the daily chart, the MA20 and MA60 form a death cross trend, which is a typical bearish alignment. Yesterday closed with a small bearish candle, and although it did not break below the previous low of 60,500, the rebound high only reached 62,253, indicating very weak bullish momentum. The 59,000-60,000 zone is a previous area of high trading volume and a potential trigger point for bullish liquidation. If it effectively breaks below 59,000, the next target is 56,000-57,000.

On the 4-hour chart, resistance at 62,200, with the previous high at 62,300 acting as strong short-term resistance. Recently, several candles have been oscillating narrowly around 61,800, with declining volume, which is a typical consolidation pattern during a downtrend. If the 4-hour chart can regain and stay above 62,300, it may enter a short-term bottoming phase; otherwise, it is likely to test the 60,000 level downward.

Upper resistance: 62,300-63,800

Lower support: 61,300-60,780

Today’s outlook: Bearish, as the market currently lacks signals of capital returning, ETF outflows continue, institutional selling is evident, and no bottoming structure appears on the daily or 4-hour charts. It is recommended to wait for a rebound to the resistance zone; if blocked, consider a light short position. #Gate直通IPO认购SpaceX