After BTC rebounded to around 63460 yesterday, it fell straight down and hit a low of around 60200, with a drop of more than 3000 points. The only negative point came from the continued hawkishness of the Federal Reserve, which dealt a heavy blow to the fragile market. The rebound after the decline was weak and it is currently running around 60600.

The US stock market closed down only 0.03% yesterday, indicating that the external data did not have much impact. The currency circle has gone through an independent decline. The basic reason is still insufficient demand, no new liquidity, and trampling on each other in the market. If you want to change this situation, you either have to wait for the ETH spot ETF to pass or wait for the next data to stimulate interest rate cuts. Without a narrative, it is difficult to go out of the independent market.

In terms of trend, it has fallen back into the downward channel again. Yesterday, there was no opportunity to break through 63600 with large volume. It briefly broke through the downward trend line, forming a trend of inducing more. The bulls chasing high were killed again. The current position is very critical. If 60200 cannot hold up, the bottom is likely to run to a new low until the next demand zone.

Short-term support below 60200 58000

Short-term resistance above 63600 67000

There are two ideas for operation. The mid-term idea is to arrange in batches in the range of 60000-58000. It has already reached the cost-effective range. In the short term, you can try short-term long orders above 6w. If it effectively falls below 6w, it means risk control, which is cost-effective.