2:00 PM Afternoon Analysis

From the Bollinger Band structure, the price touched the upper band at 64,619 and faced resistance, pulling back; it has broken below the key support at the middle band of 64,280. The upper band is also turning downward, and the Bollinger Bands are narrowing, indicating that the upward momentum has been completely exhausted, and market sentiment has shifted from bullish to bearish.

In terms of candlestick structure, after forming a local high at 64,708, the price continuously closed with bearish (downward) candlesticks, with the highs gradually decreasing. The current candlestick has confirmed a break below the middle band support, and the bearish force is still being released.

The KDJ indicator further confirms the bearish trend, with the J value dropping to -5.20, and the K and D values moving downward in sync. After the three-line death cross, they diverge downward, and the J value enters the negative zone, indicating that the correction after overbought conditions is not yet complete, and there is still room for bearish momentum to be released.

In terms of operation, the middle Bollinger Band at 64,280 has shifted from support to resistance. If the price cannot stabilize above this level during a rebound, the downward trend will continue. The strong resistance is near the upper band at 64,620, which is difficult to break in the short term. The first support below is near the lower Bollinger Band at 63,941. If this level is broken with increased volume, it will open further downside space, targeting the previous low around 63,699.

Operation suggestion: Range between 64,500-65,000, with a target of 62,500-63,000. $BTC