Afternoon Bitcoin Analysis

1. Price Movement
- Price dropped rapidly from the daily high of 74246.2 to a low of 69421.1, then oscillated and consolidated in the 69500–70200 range, showing a typical weak recovery pattern after a sharp decline.
- After a long bearish candle on the 15-minute level, multiple small candles formed a sideways pattern, indicating bulls lack momentum for a counterattack and bears remain in control.

2. Funds and Sentiment

- Net capital outflow of -1.157 billion, open interest of 6.246 billion, showing panic selling in the market with some funds exiting for risk avoidance.

- Bearish Strategy:

1. If price fails to hold the 70500–70800 resistance zone during a rebound, consider entering short positions with light positions, targeting the previous low at 69500, with further support at 69000 if broken.

2. Stop loss can be placed above 71000 to avoid unnecessary losses from false breakouts.

- Key Reminder:
We are currently in a sensitive period after the sharp decline, volatility will be extremely intense#TradFi首创多倍杠杆