Technical Analysis Only:

1. Core Market Data

Key Indicator Value/Status Core Meaning
Current Price 63,124.3 USDT Down 4.67% from the previous cycle, in a short-term correction zone
24h Range 62,704.7 - 66,508.2 Intraday fluctuation nearly 3,800 points, bearish momentum prevails
Key Support 59,980.6 Recent low point, the main support level during current correction
Time Cycle 4-hour chart Reflects a "short to medium-term" analysis cycle, indicating market sentiment over 1-2 weeks

2. Technical Trend Analysis (by Dimension)

1. Price Pattern: Receding from high levels, in "Correction Confirmation Phase"

- Previous Trend: As seen on the left side of the chart, the price dropped from a high of 97,941.6 through multiple declines, indicating a large-scale downtrend, currently in the "oscillating correction after decline."
- Current Pattern: After rebounding from 59,980.6, the price failed to break through the previous consolidation zone (~67,572.7), and declined again, forming a **"weak rebound"** pattern, breaking below the short-term consolidation lower boundary, indicating continued bearish sentiment.

2. Oscillator Indicators (KDJ/RSI): Near oversold, no clear reversal signal yet

- KDJ: K=12.7, D=19.2, J=0.1
- Logic: All three lines are below 20, in oversold territory, suggesting a potential "technical rebound," but J approaching 0 and no "golden cross" signals indicate bearish momentum has not fully exhausted, and rebound strength is limited.
- RSI: 6-day=20.2, 12-day=27.0, 24-day=34.6
- Logic: 6-day RSI has fallen below 20 (oversold threshold), indicating short-term excessive decline and potential for a "oversold rebound"; however, the 24-day RSI remains below 30, suggesting the medium-term trend remains bearish, and any rebound is likely a short-term correction.

3. Trend Indicators (MACD/SAR): Clear bearish trend, no reversal signs

- MACD: MACD=-428.5, DIF=-1100.7, DEA=-672.2
- Logic: DIF below DEA, and overall below zero line, indicating a "death cross" continuation of the bearish trend; although the green bars are not fully visible, the widening gap between DIF and DEA reflects ongoing bearish momentum.
- SAR: Current SAR=65,558.9, above the price
- Logic: When SAR (stop-loss point) is above the price, it signals a clear bearish trend; only if the price breaks above and stabilizes beyond SAR can a trend reversal be triggered.

3. Overall Analytical Logic (Core Deduction Chain)

1. Trend Priority Logic: Large-scale (4-hour) MACD below zero + SAR above price determine a medium-term bearish trend; any rebounds are "corrections within the downtrend," not reversals.
2. Momentum and Sentiment Logic: KDJ and 6-day RSI oversold → short-term downward momentum exhausted, with a probability of "technical rebound"; but rebound strength is limited by "continuing MACD bearishness," so the potential rebound height is likely limited (First resistance: 65,558.9 (SAR); Second resistance: 67,572.7 (previous consolidation zone)).
3. Support and Risk Logic: Core support at 59,980.6; if broken, it could lead to "breakdown and further decline," extending the bearish trend; if held, the price is likely to oscillate within the 59,980.6 - 65,558.9 range, awaiting new signals.

4. Summary

In the short term, the market is in a "weak oscillation after oversold," with a clear medium-term bearish trend.

- Core conclusion: Technically, there is a short-term demand for a rebound after oversold conditions, but rebound momentum is weak, mainly resulting in "weak rebounds + oscillations"; in the medium term, attention should be paid to the validity of the 59,980.6 support. If broken, the downtrend continues; if held, the price may enter a range-bound oscillation.