#创作者冲榜 This morning, Bitcoin showed a sharp pullback in early trading, hitting a low near 68200 before rebounding. As of now, the price is oscillating around the 68300 level. On the daily chart, after K-line adjustment with a bearish close, the price has fallen below the short-term moving averages. The 7-day, 15-day, and 20-day EMAs have all turned downward, showing a weakening trend in the short-term moving average pattern. The KDJ indicator's three lines are extending downward synchronously, with the J value entering the oversold zone but currently showing no reversal signal. Market bearish momentum continues to dominate. In the MACD indicator, the DIF shows a tendency to cross below the DEA forming a death cross, the energy histogram continues to compress and turn negative, with weakening volume. The RSI's three lines have fallen below the 50 level, confirming a short-term bearish-dominated pattern. Only the 66000-67000 support zone formed by the Bollinger Band lower rail and previous lows provides some support. The subsequent trend will likely continue with a pullback pattern.

From the short-cycle hourly and 4-hour charts, BTC price has broken below the 7/15/20-day short-term EMA moving averages, while also losing the 30-day intermediate and 120-day long-term moving averages. The overall moving average pattern shows a bearish arrangement; the Bollinger Band opens downward with the price hugging the lower rail, confirming a bearish trend. The KDJ three lines continue diverging downward with the J value approaching the oversold zone. After the MACD death cross, bearish volume continues to expand, the RSI three lines have fallen below 40, overall market sentiment is weak with insufficient rebound momentum in the short term.

Regarding subsequent trends, the price will likely continue to pull back and decline. Should it break below the recent low of 68200, it will further test the 66000-67000 support zone. Should a rebound stabilize on the short-term, the 70000-70500 zone above will face dual pressure from the 30-day EMA and Bollinger midline, with significant resistance to breakthrough. The overall pattern remains biased toward a bearish oscillating decline. Attention should be paid to the risk of further exploration of medium-term support levels.