Today's Market Outlook (Thursday)

• Daily Chart
Since dropping from high levels, the price has continued to weaken, with all moving averages pressing downward. The MACD has formed a death cross, with green bars still present; DIF remains below the zero line, indicating that the bearish momentum has not yet eased. The rebound attempts have failed to break through key resistance levels, showing no upward strength.

• 4-Hour Chart
The price is moving within a converging triangle or descending channel, being tightly suppressed by the moving averages. The highs of the rebounds are getting lower, and each time the price hits resistance, it falls back, resembling more of a trap for bulls. The MACD red bars are shrinking, with signs of a death cross, indicating that the bullish momentum is waning.

• Volume Structure
Volume increases during declines and decreases during rebounds; there is no follow-through buying, making sustained rebounds unlikely. The bearish trend remains intact, and low-volume rebounds are likely to reverse downward.

Bitcoin: A rebound from 71700 to 72000 may then head south
First target: around 70700
Second target: 68500 (cautiously) #Gate正式接入Polymarket $BTC $ETH