Evening Bitcoin technical analysis:



On the daily chart, a clear reversal pattern is forming at higher levels, with each rebound peak gradually decreasing and lows continuously moving lower, indicating an overall downward trend.

Medium to long-term moving averages have shifted from support to resistance, with prices remaining under key moving average levels, displaying a bearish alignment across the moving average system.

Various trend indicators are weakening simultaneously, bullish momentum continues to fade, rebounds lack volume support, showing a typical mid-downtrend continuation pattern.

The overall market structure is bearish, the short-term weakness pattern is established, there are no clear signs of a bottom yet, and the trend direction remains clear.

Bitcoin: A rebound to 71,000-71,500 could lead to a downward move.
First target 70,000, second target 69,000 (exercise caution)
$BTC #加密市场回涨
BTC-1,26%
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