This chart is BTC Perpetual Futures on the daily timeframe (1D).

Overall, Bitcoin is in a medium-term downtrend, despite the appearance of a brief rebound after the recent sharp decline.

At this stage, many new investors often feel quite confused due to continuous price fluctuations.

Price trend analysis

Recently, BTC has continuously created lower highs and lower lows, indicating that the downtrend structure has not yet been broken.

Despite some rebounds, the price still cannot overcome significant resistance zones above.

In simple terms, the price bounces back, but buying pressure is not strong enough to change the overall trend.

This is something that newcomers can easily misunderstand when they see the price bounce in the short term.

Moving Average analysis

On the chart, there are MA(7), MA(25), and MA(99) lines:

The current price is below MA(99), indicating that the long-term trend is still weak.

MA(7) and MA(25) are also below MA(99), forming a bearish structure.

In such cases, chasing emotions can easily lead to mistakes.

Many experienced traders often wait for clearer signals instead of rushing into trades.

Recent price movements and reaction zones

BTC just sharply dropped to the 59,800 USDT zone and then reacted with a slight rebound.

This indicates that buying pressure is emerging, but currently, it is just a technical bounce, not a trend reversal.

In reality, many people see the price bouncing back and think the market is safe again, but that is not always true.

Trading volume analysis

Trading volume surged during the decline, indicating significant selling pressure, possibly from panic selling or position liquidation.

After the rebound, the volume did not remain high, indicating that market sentiment is still cautious.

When volume gradually decreases while the price rebounds, the risk of a pullback still needs to be noted.

Notable support and resistance zones

Important support: 59,800 ~ 60,000 USDT

Short-term resistance: around 70,000 USDT

Medium-term resistance: the area above MA(99)

Newcomers should focus on remembering these price zones rather than just looking at the short-term fluctuations of each candle.

Summary for newcomers

Currently, BTC is still in a medium-term downtrend, and the recent bounce is not enough to confirm a reversal.

This chart is suitable for newcomers to learn how to observe trends and market sentiment, rather than using it as an immediate trading signal.

Understanding the overall picture will help you remain calmer when the market is volatile and avoid hasty decisions.