$BTC From the one-hour candlestick chart of Bitcoin, it is clear that the previous long-term consolidation resistance zone of 62900-62400 has been directly broken below by bears. The original support has been converted into a strong resistance zone. When the price rebounds and touches this zone, it will encounter selling pressure, and the bulls are completely unable to return inside the range.

Throughout the day since the opening, we have firmly maintained a bearish outlook, and the current market has fulfilled expectations. There is no sign of a stop in the subsequent downward rhythm. The first key target zone is locked at 60800-61000; if the bears break through this support with volume, the next downward target is directly at 59500.

The operational logic is very clear: the previous consolidation range above forms heavy resistance. Every small rebound is an opportunity to add to short positions in line with the trend. The big bearish trend has been opened; do not go against the trend to bottom-fish or chase bounces. Just follow the main rhythm of the market to position yourself.