⭐ BTC Today's Market Update

Bitcoin is in a weak consolidation within a downtrend on the daily chart, with support after testing Fibonacci 0.618 yesterday. During the night, it fluctuated between 62,200 and 63,000, with no signs of a valid reversal. Additionally, this morning's close was below 63,200, forming three black crows, indicating a clear bearish trend.
On the 4-hour chart, after hitting a bottom at 62,232, the price rebounded slightly, but the rebound high only reached 63,266, failing to regain the previous level. The rebound momentum has weakened, and the 4-hour channel has broken downward, indicating an effective breakdown. If it cannot quickly recover above 64,200 and volume increases to stabilize, the price will continue to decline, with a break below 62,235 targeting 60,800.

Upper resistance: 63,200-64,200
Lower support: 62,235-61,800, break below targets 60,800

Today’s outlook: Overall bearish, with rebounds blocked in the resistance zone. Consider shorting on rallies. If volume increases and it recovers above 64,200, observe; if it directly breaks below 62,300, follow the trend downward toward 60,800.