Afternoon Analysis:

From a chart perspective, after Bitcoin declined from the 71077.7 high, despite minor technical rebounds, the overall bearish pattern has not reversed.
On the 1-hour timeframe, the moving averages show a bearish divergence formation, with price consistently pressured below the moving averages and weak rebound strength, indicating insufficient bullish counter-attack momentum.

The 69000 level above is key resistance, with multiple rebounds blocked here and concentrated selling pressure; the 68000 support below is being repeatedly tested, and once broken, it will trigger stop-loss cascades, opening downside space directly toward the previous low near 67300.
K-line candlesticks show more bearish than bullish, Bollinger Bands opening downward, bearish momentum continues to release, market sentiment is cautious, and bottom-fishing funds show strong wait-and-see sentiment.

Trading suggestion: Short 69000-69500, Target 67000-67500$BTC $GT