The evening session is a bit bearish. What's most frightening about that drop below 59000 is not the price itself, but that positions were still increasing as it fell. Prices are going down, positions are not being reduced, indicating that the shorts are not just hitting and running, but are continuing to test the support below.

But I don't want to call it a breakdown directly, because this 58900 level still needs to wait for the candle close to confirm. If the 1-hour and 4-hour candles really can't close back above, even if the shorts have eaten below 59000, then the 58000 area will be retested.

Conversely, if the bulls want the market to catch a breath, just pulling it up once won't work. At the very least, they need to get back above 59400 first, then look at 60000. If 60000 cannot be reclaimed, this kind of rebound is most likely just trapped capital and covering capital churning around, not real buying power stepping in again. Just like what was mentioned in this morning's analysis, every time it bounces to a resistance level, it's actually just short-term cost holders wanting to get out of their positions, and their exit causes selling pressure. So every time it tests a resistance level, it gets knocked down — that's the reason.

The group is watching 58900 tonight. If it can't close back above, the market will remain bearish; if it does, then see if 59400 and 60000 can be taken next. The most deceptive thing now is not the direction, but the market keeps making a pin to trap people. Short positions entered this morning can move the stop loss up and continue holding. $BTC