Yesterday, BTC tested the 59,000 level again. Let's take a look at the chart! The upward trend line on the daily timeframe has been completely broken, with highs at 63,196 and 65,596 gradually moving lower. The bearish structure on the larger timeframe is fully established. After a sharp decline from yesterday to early morning, hitting the low of 59,000, the current recovery is only a weak bounce after an oversold condition and does not change the overall downward trend.

Currently around 60,800. From the 1-hour and 4-hour short-term timeframes, the strength of the short-term bounce is weak, with moving averages suppressing upward movement throughout. Bounce volume continues to be insufficient, and selling pressure above is very heavy.

The key short-term resistance zone is 61,200-61,500, which is the strong resistance for this round of bounce. The support below is the previous low range of 59,900-59,000. Once the support is lost, the downside space will open again.

In terms of trading:
Short when the rebound reaches the 61,000-61,500 range in batches, with a stop loss above 61,800. The first target is the previous low of 59,900, and if broken, follow through to 59,000.
If the 59,900 support holds upon a retracement, you can take a light long position for a small recovery. Once the rebound is in place, still focus on shorting at highs. Maintain light positions throughout and strictly control risk. $BTC $ETH #BTC下探60000美元关键关口