Bitcoin Evening Market Analysis

Bitcoin's daytime trading remains volatile, with a slight rebound in the morning followed by continued pressure, generally trading within a narrow range of 73,500 to 74,800. Yesterday, after spiking near 76,000, it sharply retreated, with the daily chart showing a clear long upper shadow, indicating that bullish momentum has fully waned. The market is in a cautious mood, with short-term rebounds lacking strength, and bears gradually taking control. The bearish outlook in the Asian session has also realized a retracement of over a thousand points.

On the daily chart, the price surged and then fell back, with strong selling pressure around 76,000. Short-term moving averages are beginning to turn downward, and the MACD indicator is shrinking and weakening from high levels. The bullish momentum continues to diminish, establishing a medium-term pattern of weakening consolidation. The 4-hour cycle shows a clear pattern of a rebound with no volume and increased volume on declines, with the critical support at 73,000 becoming increasingly precarious. The RSI continues to decline, indicating weakening strength, and bearish power is growing, making a short-term breakdown and decline highly probable. Tonight, the overall outlook is bearish, with the only strategy being to sell into rebounds.

Wednesday night trading strategy: In the 74,500-75,000 range, gradually open short positions, targeting a move down to 73,000. If support breaks, hold for further declines toward 72,000-70,000. Place stop-loss orders above 76,000, strictly control position sizes, avoid holding large positions, avoid bottom-fishing, and firmly follow the bearish trend. $BTC