Daily Market Analysis — BTC

Today's market analysis is a bit late; sorry for the wait. However, all structures have been repeatedly mentioned in the trend discussed over the past few days. The longer this position persists over time, the more caution should be exercised regarding potential declines.
From the daily chart perspective, the price is at the end of the second downward sideways consolidation. This is similar to the end of the first downward consolidation, both forming a bearish top and then breaking down.
Until the price recovers the daily MA30, the main trend remains downward; even if it recovers later (a low-probability event, and not ruling out sudden moves—no need to bet on an upward move), since the rebound is on the bearish side, it will only increase selling pressure. Chasing the rally is not advisable; only prepare for a sharp decline after a rapid rise.
From the 4H to 12H charts, the medium-term structure generally remains on the bearish side within a downtrend. The low-level oscillations are still ongoing. The upward moves here lack sustainability and space; only the divergence and selling pressure points should be considered. Combining with the overall trend, only the potential downward breakouts should be prepared for (high probability).
From the 1H and lower timeframes, the price has repeatedly faced resistance around 67,620 in the short term and fallen back. The current position is also dominated by bears. Focus on the downward movement after the small-scale rebound ends.
Summary: All timeframes are generally dominated by bears, with structures indicating bearish signals. The bulls are resting!
Immediate resistance at the small timeframe is around the current price, with layered resistances above. The entire zone from 684-700 is a resistance area. Handling this zone is complex and tedious, so I won't elaborate further. The more straightforward resistance zone is around 73,269–75,180, which should be considered only after the price enters this range.
Aggressive support levels are at 64,418–63,720 (short-term trading, quick in and out, avoid sharp drops), short-term supports at 59,469–57,668 (quick trades), secondary support at 56,150–54,088 (buy the dip on sharp declines), and potential third support at the lower boundary of the downward consolidation at 47,611–38,996. Long-term positions can be considered here.
Note: The daily K-structures at the end of the first and second consolidations are similar, but upon closer inspection, they are different. The second consolidation has two additional major support levels below it compared to the first. Refer to the article for short-term and second consolidation support zones. #BTC