Last night's market followed the expected pattern of continued decline. Bitcoin experienced a brief rebound after the US stock market opened lower but faced clear resistance around 66,500. Ethereum was similarly held back by the 1,950 resistance level and failed to break through. As the large-scale bearish momentum continued to increase, short-term support levels below were finally broken, with the price dropping to around 65,300, perfectly confirming the bearish outlook from last night and capturing nearly a thousand points of profit.

From a technical perspective, the rebound high of 66,500 last night precisely touched the 4-hour MA34 moving average resistance before pulling back, forming an effective double top signal. This level also coincides with the lower boundary of a previous high-volume trading zone, creating a dual resistance with the moving average, which prevented the bulls from mounting a comeback. Subsequently, the bearish momentum intensified again, with consecutive bearish candles breaking through the short-term support levels at 66,000 and 65,500, confirming the continuation of the downtrend. The current price around 65,300 is temporarily holding, but the rebound strength on the hourly chart is weak, with the candlestick bodies remaining below 65,600, reflecting the lack of buying interest from the bulls. The moving average system remains in a standard bearish alignment, with the 4-hour MA34 pressing down to 66,300, forming a new resistance zone with previous support levels.

Bitcoin outlook: Short around 65,500, target 64,500
Ethereum outlook: Short around 1,920, target 1,860#当前行情抄底还是观望？ $BTC