Based on the current 4-hour candlestick trend of BTC/USDT, I believe there is still downward pressure in the short term. The current price is around $68,508, having retreated from the previous high of $73,650, and there are no signs that this pullback has completely ended. From the moving average system, the short-term moving averages have started to decline significantly, especially the EMA5 and EMA10 turning downward, indicating that bearish momentum is building.
The MACD indicator further verifies this. The DIF and DEA lines are below the zero axis, with the green histogram continuously expanding, indicating that bearish sentiment remains strong. In this situation, I judge that BTC may continue to probe downward in the short term, with the target support level around $67,500. If this support level is effectively broken, it is very likely to drop to a lower support at $65,000.
My view is clear: until BTC stabilizes, it is best to remain cautious and wait patiently for a more ideal entry opportunity. For short-term traders, it is not advisable to blindly chase long positions at the current level; it is more prudent to wait for the pullback to end and for a clear rebound signal before considering increasing positions.
In the coming days, I will closely monitor the support situation at $67,500 to confirm whether the pullback has ended. If it holds, then I will consider positioning; otherwise, I will continue to maintain patience and wait for BTC to provide a clearer direction.
