$BTC Current price 60838, has fallen below the Bollinger middle band at 60899, between the middle and lower bands. Short-term bullish support has failed, and the market is weakening. The upper band is turning downward, the middle band is flat and slightly declining, the lower band is slowly opening downward, and the Bollinger Bands are beginning to widen slightly, meaning short-term volatility will increase and downward momentum is being released. Resistance above: Bollinger middle band 60899, upper band 61115 as the first strong resistance on a rebound. Support below: Bollinger lower band 60683, intraday low 59060 as a strong support zone. In the early morning rally phase, there was a massive bullish candle, but volume continued to shrink during the subsequent rise. In the recent decline phase, volume has increased moderately, indicating active selling during the drop, no incremental capital entering on rebounds, and insufficient bullish strength.

Short-term 5-period average volume 1214, 10-period average volume 994, current real-time volume only 506. Rebound on shrinking volume, decline on expanding volume—a typical weak structure. In terms of candlesticks, early morning saw a sharp bottom bounce from 59380 to a high of 61256, forming a short-term rebound. After hitting the 61256 high, bullish momentum faded, consecutive bearish candles closed lower, gradually breaking below the Bollinger middle band. Currently on the 15-minute timeframe, it continues to face pressure below the middle band, with short-term bears dominant.

Subsequently, the price is likely to remain under pressure below the 60900 middle band, testing support at the Bollinger lower band 60683. If the lower band is lost, it will further retrace to the intraday low near 59060. To reverse the weakness, it must break above the Bollinger middle band at 60900 with volume. Only after stabilizing there can it have a chance to challenge the upper band resistance at 61115. Current volume is insufficient for a direct reversal.

Bitcoin 61100-61300 range short, target 59500

Ethereum 1630-1650 range short, target 1560