$BTC Rebound momentum continues to shrink, and the downtrend has not yet been reversed
From a technical perspective, BTC is trading within a descending channel on the hourly timeframe. After falling from the 63980 high, it formed a bottom at 62484 and then entered a period of sideways consolidation. During the rebound, trading volume has continued to trend lower, suggesting weak willingness of incremental capital to enter. Bullish counterattack momentum is insufficient, making it difficult in the short term to turn around the downward structure.
From a capital-flow perspective, US spot Bitcoin ETFs have recently continued to see net outflows, and institutional long sentiment remains sluggish, further suppressing the upside of price rebounds. The 63600-63800 range has accumulated a large number of trapped positions, making it a strong resistance zone in the short term. Below, 62500 is support from the prior low; if it is effectively broken, it will trigger stop-loss selling and accelerate the downward move.
Trading reference: Resistance at 63800, support at 62500. Consider placing short positions on rebounds in the 63400-63600 range, with a stop-loss at 63900. Take-profit for the first target at 62500; if that level is broken, prices may fall further toward 61800. Going forward, focus on changes in volume and ETF fund flows. A rebound without volume is generally seen as weak consolidation, and the overall bias remains bearish.
The above reflects personal views only and does not constitute investment advice.
From a technical perspective, BTC is trading within a descending channel on the hourly timeframe. After falling from the 63980 high, it formed a bottom at 62484 and then entered a period of sideways consolidation. During the rebound, trading volume has continued to trend lower, suggesting weak willingness of incremental capital to enter. Bullish counterattack momentum is insufficient, making it difficult in the short term to turn around the downward structure.
From a capital-flow perspective, US spot Bitcoin ETFs have recently continued to see net outflows, and institutional long sentiment remains sluggish, further suppressing the upside of price rebounds. The 63600-63800 range has accumulated a large number of trapped positions, making it a strong resistance zone in the short term. Below, 62500 is support from the prior low; if it is effectively broken, it will trigger stop-loss selling and accelerate the downward move.
Trading reference: Resistance at 63800, support at 62500. Consider placing short positions on rebounds in the 63400-63600 range, with a stop-loss at 63900. Take-profit for the first target at 62500; if that level is broken, prices may fall further toward 61800. Going forward, focus on changes in volume and ETF fund flows. A rebound without volume is generally seen as weak consolidation, and the overall bias remains bearish.
The above reflects personal views only and does not constitute investment advice.