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

Panic in the market has returned. After the Fed stated it would not cut rates, this BTC sharp decline is not doomsday, but it is certainly not a good time to buy the dip! Falling from the high of 76000 to 68750, many are panicking now—either holding on stubbornly or blindly buying the dip.

Currently, big coins have continuously closed with large bearish candles, bearish momentum continues to release, and the overall trend maintains a clear downtrend pattern. Bull rebounds lack strength, and prices remain suppressed by short-term moving average resistance.

Key resistance zone to watch above: 721-723 area. This range is a critical retracement low point from the previous uptrend and has been effectively broken through. According to the "top-bottom conversion" principle, this level has transformed from support into important resistance for rebounds. Simultaneously, this position essentially overlaps with the current 5-day moving average, forming double resistance from both the moving average and key price levels.

BTC Trading Recommendation: Short 713-718, target 70000; if broken, watch 692-683. Stop loss at 727.

I hope you can gain insights and understanding from my articles! A small boat drifts in the sea; if you don't hoist your sails, you will drift forever in the ocean. $BTC ‌$ETH ‌#加密行情震荡