After encountering resistance near 76,000, Bitcoin's price declined for two consecutive candlesticks, breaking below the upper band around 75,400, indicating that the upper band resistance is beginning to take effect. Short-term bullish momentum is clearly weakening, and funds are taking profits at high levels.

Currently around 74,700, just hitting the middle Bollinger Band, which is the intraday support and resistance level. As long as volume cannot increase to firmly hold above 74,700, downward pressure will persist.

The upper Bollinger Band has started to turn downward, and the channel shows signs of flattening or narrowing, indicating that the high-level bullish consolidation has ended and the market has entered a correction cycle. Meanwhile, the lower Bollinger Band is still rising, providing some buffer for a decline, so the most likely scenario is a gradual decline with some retracement, not a sudden waterfall drop.

Suggestions:

Short around 74,800, targeting 73,700, with a stop loss at 75,500.