7.2 Evening Market Analysis$BTC

From a daily perspective, Bitcoin's price is showing a clear pattern of consecutive bearish declines, effectively breaking below the middle Bollinger Band support, with only a step away from the lower band. Against a backdrop of significantly intensified bearish momentum and increased trading volume, the downside faces virtually no resistance. Earlier multiple attempts to break upward have not only failed but also substantially damaged the overall bullish market structure.

Combined with the four-hour level analysis, a short-term downward channel has been established, and the bearish trend is very clear. Although the current market is in a bottom-finding recovery phase and occasionally releases weak rebound signals, the overall downtrend has not fundamentally changed. At the macro level, pressured by multiple bearish factors such as rising expectations of Fed rate hikes, a stronger U.S. dollar, and sustained net outflows from spot ETF funds, market liquidity has further tightened, exacerbating selling pressure on non-yielding risk assets. In terms of operation, short on bounces!

Operation Suggestions
Go short on rallies in the 62000-61500 range, with a target near 58000-59000 below.