Bitcoin market analysis:

From a purely technical perspective, the current sentiment is not very good, and the risk of short-term decline still exists and is not small, but this is not a signal of blind bearishness. The technical aspect is only a reference, and the current focus is still to refer to market data changes and market sentiment.
Let's talk about the rising resistance level first. The short-term resistance level moves down during the decline and is currently around 66,000.

The current decline, falling below 65,000, basically falls below the bottom neckline of the daily M top. The break at this position, from a technical point of view, will continue to fall. At present, the overall pressure is given to the support of 61,200. As the Fibonacci gold support level, coupled with the signals given by various indicators at present, this position has the best support effect, but the pressure is also huge. Once it breaks through, the integer level below 60,000, and below, there is not much effective support.

Until around 55,000, there is a lot of room for decline. Of course, the risk of decline is not completed overnight, which requires a process.

The RSI relative strength index has fallen to around 40. Once it falls below 30, it will touch the oversold rebound sentiment.

Combined with the current market situation, as long as the 61,200 position can withstand the pressure and form support, there will be a rebound in market sentiment. During this period, I hope that the US stock market can bring positive driving effects and help the support below to provide rebound strength.
Later we will see what answers the market data brings us.
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