Global central banks remain vigilant against inflation resurgence, and markets are beginning to hedge against the possibility of Fed rate hikes within the year.

Panic-driven market conditions have returned. Following the Fed's comments on not cutting rates, this BTC decline is not the end of the world, but certainly not a good time to bottom-fish! Dropping from the peak of 76000 to 68750, many people are now panicking—either holding on stubbornly or buying recklessly at the bottom.

Currently, BTC has consecutively closed large bearish candles, with short selling momentum continuing to release. The overall trend maintains a clear weakening downtrend pattern. The bullish rebound strength is weak, with price constantly suppressed by short-term moving averages.

Key resistance area above: 721-723 region. This zone is the critical pullback low point during the previous uptrend. It has now been effectively broken, and according to the "top-bottom conversion" principle, this level has transformed from support into an important resistance zone for rebounds. Additionally, this position largely aligns with the current 5-day moving average, forming dual resistance from both the moving average and key levels.

BTC Trading Recommendation: Short at 713-718, Target 70000 level, if broken look for 692-683, Stop loss at 727

I hope you can gain insights and reflection from my article! A small boat drifting in the sea—if you don't raise your sail, you will drift in the ocean forever.$BTC ‌$ETH ‌#加密行情震荡