$BTC The 1-hour chart shows a clear bearish dominance pattern, with the current market in a standard descending consolidation box structure: the oscillation range continues to narrow, the upper edge at 58924 is under pressure from the middle Bollinger band, and support is locked at the previous low of 58172; the highs of the stage rebounds are gradually lowering, and the rebound volume is concurrently shrinking. The market is not forming a bottom, but rather a phase where bears are accumulating strength.

The Bollinger bands are opening downward as a whole, with prices under sustained pressure below the middle band. Bearish momentum has not yet been fully released; the KDJ indicator has turned down again after a minor recovery, and short-term rebound momentum is basically exhausted. It is only a matter of time before the lower edge of the box is broken.

Market logic: Rebound without volume is an opportunity for bears to add positions. The pressure at the upper edge of the box is difficult to break effectively, and it is highly likely that the price will break downward through the lower edge support. The first target is the lower Bollinger band at 58070. Once this level is broken, the downward space will open up completely. Coupled with the continued cooling of macro market risk appetite and continuous fund outflows from the market, do not blindly bottom-fish or catch falling knives in the short term.

In terms of trading

Rebounds to the 59100-59600 range can be used to open short positions in batches, with a downside target of 57100-57600. Be sure to set stop loss to manage risk when entering.#Sharplink增持1万枚ETH