The 1-hour timeframe shows a sharp decline with increased volume, breaking below the lower Bollinger Band. The bearish momentum is being fully unleashed, and the phased selling pressure has basically been exhausted.



Currently, the price is far from the moving averages, entering an extremely oversold zone. The technical divergence is prominent, and the momentum for further sharp decline is clearly insufficient.

As the bearish force weakens, bullish support gradually emerges. The price has a strong rebound and correction demand, making a technical rebound and upward movement a high-probability scenario.

Look for long positions around 666–667 for Bitcoin, targeting 690–700.
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