Bitcoin Daily Trading Suggestions

Overall, Bitcoin shows a volatile downward trend, starting to pull back from the high point around 66,120 early today. During the oscillation and decline, it gradually broke through short-term support levels, with the lowest dip reaching around 63,970. The current price is around 64,282, showing weak consolidation.
Ethereum's movement is highly correlated with Bitcoin, starting its decline from the high of 1792 and dropping to the low of 1729. Throughout, it exhibits a weak follow-through decline, with market movements linked, and the overall drop reaching 3.65%, far exceeding Bitcoin's 2.72% decline, indicating more intense risk release.

On the daily chart, the downward channel continues to expand in an orderly manner. After a short-term weak rebound and a false breakout to trap buyers, the market has successfully shifted to a steady oscillating downward trend. Bearish momentum is gradually released, causing the moving average system to resonate downward in unison, with prices staying below key moving averages like EMA15 and EMA30. The middle band of the Bollinger Bands around 65,648 acts as a strong resistance. This pattern indicates the trend has clearly reverted to a bearish dominance, with the downward trend being persistent and structurally stable.
The four-hour chart continues its weak decline, with prices consistently falling below the channel's lower boundary, and rebound highs continually moving lower, showing technical features of a one-sided weak decline, further solidifying the daily bearish trend. Currently, the market rhythm indicates that bearish forces are still accumulating. Short-term rebounds are not trend reversals but typical trap moves to trap buyers, aiming to build selling pressure for further declines. Market sentiment is deteriorating, with the crypto fear and greed index dropping to 15, entering extreme fear territory. Funds are fleeing from spot and ETF markets, intensifying selling pressure.
On the technical indicators, the MACD lines have formed a death cross below zero, with bearish momentum bars enlarging. RSI hovers around 30 in oversold territory but shows no clear reversal signs, suggesting further downside potential. The upcoming FOMC decision tonight is a key variable for short-term direction. If the Fed signals a hawkish stance, it is expected to accelerate the decline, with the 60,000-61,000 zone becoming a critical support area. This morning's operations mainly focus on rebound-based short positions.

Specific trading suggestions: Watch the resistance at 64,800-65,300 and the key levels at 66,000, 67,500, and 68,300. Depending on resistance, consider shorting at high points aiming for a 500-6000 point drop. Holding above 66,000 can be seen as a sign of a minor trend reversal, while holding above 68,300 indicates a short-term major trend reversal.
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