In the early trading session, Bitcoin continued its previous weak pattern, with the price choosing to break down again after a brief consolidation. As indicated in the morning's bearish outlook, the market accelerated its decline after breaking through key support, leading to a second wave of retracement. The price quickly dropped from around 79,800 to the 76,500 range, with bearish momentum clearly dominating, and the market's selling pressure continued to be released. This decline not only confirmed the short-term bearish trend but also put those who attempted to catch the bottom in a passive position temporarily.
Currently, Bitcoin has not shown a clear stabilization signal. Although the price temporarily stopped falling around 76,000, the rebound strength is noticeably weak, remaining in a low-level oscillation state. Structurally, the 1-hour timeframe has not formed an effective bottom shape, instead frequently facing pressure from dense moving averages during the rebound. Additionally, market trading sentiment remains cautious, and the net outflow of funds reflects that the short-term selling pressure has not been fully digested. This afternoon, it is crucial to pay attention to whether the price can stabilize above the 78,000 mark; if the rebound remains weak, it may further test support downward.
The afternoon strategy remains focused on short positions, with attempts to gradually establish short orders in the 81,000 range, targeting the 78,000 area. If the price unexpectedly breaks strongly above 81,000, caution is needed for a potential short-term trend reversal, and timely exit to observe is advised. Overall, the market has not yet exited the bearish dominance phase, and it is safer to follow the trend, avoiding blind bottom-fishing.
Short-term trading suggestion:
$BTC $ETH #美股大跌 #加密市场回调 Short Bitcoin around 81,000, with a target focusing on around 88,800; short Ethereum around 2,000, with a target focusing on around 1,850.