Sunday Evening Bitcoin Market Analysis!

Today’s Bitcoin trend is very clear, with multiple attempts to break through the 68248 level. Including this attempt, it has failed four times. The resistance at this level is very strong, and everyone should be aware of that. According to technical principles, if a key resistance level cannot be broken through more than three times in a row, the bullish momentum is basically exhausted. It will be very difficult to make a strong breakthrough afterward unless there is a major positive news catalyst. Relying solely on market strength is unlikely to succeed.

Additionally, the current external environment is unstable, with complex and changing situations. Multiple uncertainties are stacking up, making it even harder to break through the strong resistance directly. Many people see a slight rebound and shout about a market reversal, but that’s overly simplistic. Reversals are never achieved overnight, and a simple rebound does not mean a complete trend change.

In terms of current movement, the triangle pattern has already been broken, and the price has fallen back to around 66346. This level is the dividing line between bulls and bears and is very important. As long as 66346 can hold, there is still a possibility for the market to oscillate and recover. That is the only prerequisite for stopping the decline; once it is effectively broken below, the downward space will be fully opened.

After breaking below 66346, the first support level to test is the 65117-64605 zone. Further decline will test the low at 62975. If the price can find support at 62975, the market remains within controllable limits. However, if this level cannot hold, the previous low at 62401 will also be difficult to support, and the decline will continue.

$BTC In short-term trading, clarity of thinking is essential, and signals must be followed strictly. A volume breakout above 67070 suggests a long entry on the right side to catch rebounds; a volume breakdown below 66295 with a failed rebound indicates a short entry on the right side—remember to set stop-losses properly. On the hourly chart, only if the price stabilizes above 67318 can we look toward 68200-68882. If it cannot hold this level, any further rebounds will be futile. On the 4-hour chart, once the price breaks below 66346, the next target is 65086-63532.

From the 4-hour technical perspective, the price has fallen below the middle line of the range, and this decline is not accidental. During the daytime rally, it just touched the Fibonacci 61.8% resistance level, which is a strong resistance point. If the price cannot stabilize above this level, a correction is inevitable. If it can hold above 61.8%, there is a chance to push toward 69989; otherwise, a correction is certain. As long as the 4-hour correction does not fall below 38.2%, risk remains manageable. Once it breaks below, the previous gains are likely to be fully retraced.

In trading, avoid blindly following the crowd. Focus on volume changes, and any key level breakout or breakdown must be confirmed with volume.