$GT 7.1 Latest thoughts on BTC afternoon

From the 4-hour level perspective, the price overall is still within the medium-term downward channel. This rebound is merely a technical correction after oversold conditions; it has not yet broken through the key resistance level to reverse the bearish trend. MACD is still running below the zero axis. During the rebound, trading volume remains persistently insufficient, and the middle band of the Bollinger Bands forms strong resistance. The overall large-scale bearish pattern has not fundamentally changed. After the rebound faces pressure, the probability of continuation lower is higher, and the sustainability of the bullish rebound is questionable.

Switching to the 1-hour level, after the price surged to the 59171 area, it quickly met resistance and pulled back. The long upper shadow lines highlight heavy sell pressure overhead. MACD red bars shrink rapidly, and bullish momentum gradually exhausts. RSI turns downward from the overbought region. Short-cycle moving averages’ bullish support has not been effectively consolidated. The need for a short-term pullback is gradually becoming apparent. After breaking below short-term support, a new round of decline will be triggered.

Rebound to around 59000-59500 to do 🈳, looking down to around 58500—57500 #币圈 $BTC