Short-term market sentiment remains cautious; investors need to adjust positions based on market dynamics to avoid emotional trading.

Price Trend: Bitcoin's current price is around $66,500, gradually pulling back from a recent high of $69,566, and showing a trend of fluctuating downward after October 13. In the short term, if the price breaks below the support level of $66,000, it may further dip to lower levels.

Both MA50 and MA200 moving averages indicate price pullback pressure. MA50 is around $68,000, and MA200 is slightly above $67,000, indicating a weak short-term trend as the price approaches the long-term support range. If the price breaks below these support levels, it will continue to weaken.

The MACD indicator shows a negative value (-105.7), and the DIF line and DEA line are declining in the negative zone, indicating strong bearish momentum. The short-term downward trend has not yet ended, and the probability of further declines is high.

Short-term Strategy:

- Support Level: $66,000 - $66,500: This is a key support level to watch in the short term. If the price breaks below $66,000, it is advisable to stop losses or reverse to short, with the next support possibly in the $63,000 - $64,000 range.

- Resistance Level: $67,500 - $68,000: If the price can hold above $66,000 and rebound, the short-term upward target area may be from $67,500 to $68,000. If the price can break through this resistance area, consider chasing longs.

Medium to Long-term Strategy:

- Short Signal Confirmation: If the price continues to decline with increased trading volume, consider increasing short positions when it breaks below the support level of $66,000, targeting around $63,000.

- Long Opportunity: If there are signs of market overselling and rebound signals appear in RSI and MACD, consider taking a small long position above the support level of $66,000, with a short-term target around $68,000.

Trading Risk Control:

- Stop Loss Suggestion: If holding long positions, it is recommended to set the stop-loss level below $65,000 to prevent larger losses from significant price declines.

- Take Profit Suggestion: If the price rebounds above $68,000, consider gradually taking profits to lock in gains.